The Supreme Court on Thursday rejected a conservative-led attack that could have undermined the Consumer Financial Protection Bureau.
The justices ruled 7-2 that the way the agency is funded does not violate the Constitution, reversing a lower court. The CFPB was created after the 2008 financial crisis to regulate mortgages, car loans and other consumer finance.
I bet, can guess who those 2 were without even looking.
Justice Clarence Thomas reached back to the earliest days of the Constitution in his majority opinion to note that “the Bureau’s funding mechanism fits comfortably with the First Congress’ appropriations practice.”
Hmmm..... surprising.... maybe public pressure does work.
Justices Samuel Alito and Neil Gorsuch, Thomas’ colleagues in the court’s conservative bloc, dissented. “The Court upholds a novel statutory scheme under which the powerful Consumer Financial Protection Bureau (CFPB) may bankroll its own agenda without any congressional control or oversight,” Alito wrote.
No more powerful then the billionaires that get to bribe officials and run the show.