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OPINION: Despite SCOTUS Ruling, CFPB Oversight Needed

By Bill Himpler, President and CEO, American Financial Services Association | Thursday, May 16, 2024 @ 4:33pm

Today, the U.S. Supreme Court handed down its ruling in the much-anticipated Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) case that challenged the CFPB’s independent funding mechanism through the Federal Reserve. The American Financial Services Association joined with other trades in an amicus brief arguing that the Bureau’s “funding scheme is historically unique.”