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CFPB’s future on the line following oral arguments at US Supreme Court

Image of Senator Elizabeth Warren (D-MA) in front of a microphone.
Senator Elizabeth Warren (D-MA) was a driving force behind the creation of the CFPB. Photo: Mark Wilson/Getty Images

Julie DiMauro

5 min read
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US Supreme Court justices heard the payday lending industry’s challenge to the CFPB’s funding structure in a case that has broad ramifications.

The US Supreme Court on Tuesday appeared skeptical of the payday lending industry’s challenge to the Consumer Financial Protection Bureau’s (CFPB’s) funding structure. But the case could dismantle an agency set up to curb predatory lending and enforce consumer financial laws.

A ruling is expected sometime in June 2024,Reuters

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