Overview

• The ruling was a major setback for conservative efforts to dismantle the CFPB.
• Justice Clarence Thomas authored the majority opinion, joined by both conservative and liberal justices.
• The decision maintains the CFPB's ability to draw funds directly from the Federal Reserve.
• Dissenting justices argued that the funding mechanism violates the Appropriations Clause.
• The case was initially brought by payday lenders challenging CFPB regulations.