Supreme Court Decision on CFPB Funding

“With the Supreme Court’s ruling today affirming the CFPB’s funding structure, attention should rightly shift back to the CFPB’s recent actions and its willingness to flout the law. All too often, this CFPB has exceeded its statutory authority and the will of Congress with significant negative consequences for the consumers the Bureau is supposed to protect, and that must come to an end. We will continue to advocate for our members and their customers including through litigation where necessary.

“ABA will also continue to call on Congress to establish more accountability for the Bureau. Only by placing limits on this rogue regulator can we ensure that consumers are truly protected and that banks can continue to provide them with the financial products they want and need.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $24.2 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.1 trillion in deposits and extend $12.6 trillion in loans.

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