Overview

• The Supreme Court ruled 7-2 that the CFPB's funding structure is constitutional, ending significant legal challenges to the agency.
• CFPB Director Rohit Chopra announced plans to hire additional investigators and proceed with cases that were previously on hold.
• The decision allows the CFPB to target payday lenders and other financial services accused of predatory practices.
• The ruling was supported by both consumer advocates and segments of the banking industry concerned about market stability.
• The CFPB aims to address issues in areas like pawn shops, medical billing, and credit reporting through new regulations.