Supreme Court Upholds CFPB's Authority, Paving Way for Expanded Enforcement

The Consumer Financial Protection Bureau plans to bolster its staff and resume aggressive actions against financial misconduct following the decisive ruling.

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.