Supreme Court Upholds CFPB Funding Mechanism as Constitutional

In a long-awaited decision with profound implications for the future of the agency, the Supreme Court held 7-2 today that the Consumer Financial Protection Bureau (CFPB) is constitutionally funded. CFPB officials can breathe a sigh of relief as a contrary decision would have called into question many longstanding enforcement, investigative, and regulatory efforts. With the Court’s decision today, more than a dozen pending CFPB cases that had been paused pending the decision will now move forward.