Federal court ruling limits CFPB's authority to combat discriminatory practices

A judge ruled the CFPB overstepped its authority by seeking to address discriminatory banking practices.
The ruling was a win for banking industry groups who argued the CFPB lacked power to address discrimination.
The CFPB wanted to scrutinize practices with disparate impacts on consumers, but groups said that exceeded its mandate.
A previous ruling stated the CFPB's funding structure violated separation of powers.
The CFPB has appealed the funding ruling to the Supreme Court.