Supreme Court Upholds Consumer Financial Protection Bureau's Funding

In a 7-2 decision, the court confirms the constitutionality of the CFPB's unique funding mechanism, preserving its role in consumer protection.

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.