The Supreme Court on Thursday rejected a conservative-led attack that could have undermined the Consumer Financial Protection Bureau.
The justices ruled 7-2 that the way the agency is funded does not violate the Constitution, reversing a lower court. The CFPB was created after the 2008 financial crisis to regulate mortgages, car loans and other consumer finance.
Holy fuck, I absolutely did not expect this outcome at all. The CFPB is so necessary, so I assumed the court was going to throw it out. This makes me more optimistic about Chevron.