In CFPB v. CFSA, the Supreme Court held that the Bureau’s funding mechanism did not violate the Appropriations Clause of the Constitution. Specifically, the Appropriations Clause only requires Congress to identify a source of public funds and authorize the expenditure of those funds for designated purposes, which the Bureau’s funding statute satisfied. Now that the CFPB has survived its second existential challenge at the Supreme Court, what is next for the Bureau, financial services companies, and consumers? This panel will discuss the Supreme Court’s decision and its implications, including regarding the Payday Lending Rule, the Bureau’s rulemaking and enforcement priorities, and practical considerations for regulated entities and fintechs.
Note: There are no written materials for this program. The content of this program does not meet requirements for continuing legal education (CLE) accreditation. All recordings and materials from this program and previous programs are available for free for ABA members and can be found on the ABA Business Law Section website.
