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On the second day of its new session, the Supreme Court heard arguments in a case that could grind to a halt the Consumer Financial Protection Bureau’s (CFPB) important work for American consumers.
The case, CFPB v. Community Financial Services Association of America, involves whether the bureau's funding outside the congressional appropriations process is constitutional.
In May, NTEU filed a brief at the Supreme Court arguing that a lower court wrongly decided that the CFPB’s funding structure is unconstitutional. The CFPB’s funding is fully consistent with the Constitution and Supreme Court precedent, NTEU argues.
“Congress has exercised its constitutional prerogative to fund the CFPB in a manner of its choosing; the CFPB, in turn, has abided by the limits that Congress has set on its funding,” according to NTEU’s brief.
Congress created the CFPB in the wake of the 2008 financial crisis to help shield Americans from unfair, deceptive and abusive financial products and practices. Since its inception in 2011, CFPB has delivered more than $16 billion in relief to American consumers while handling more than three million complaints.
NTEU is proud to represent around 1,000 frontline CFPB employees who provide critical help to seniors, veterans, college students and families around the country. NTEU’s brief urges the Supreme Court to ensure that this valuable work continues.