The ruling protects the CFPB from the existential threat that Republicans in a bitterly divided Congress would block annual appropriations for the agency, which currently is funded by the Federal Reserve system.
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Supreme Court rules Consumer Financial Protection Bureau funding structure is legal
“The statute that authorizes the Bureau to draw money from the combined earnings of the Federal Reserve System to carry out its duties satisfies the [Constitution’s] Appropriations Clause,” Justice Clarence Thomas, a conservative, wrote in the majority opinion.
