SCOTUS Upholds Consumer Watchdog's Funding Mechanism

Image copyright: Kevin Dietsch/Staff/Getty Images News via Getty Images

The Spin

Narrative A

SCOTUS has upheld the CFPB's congressionally-appointed authority to protect Americans from predatory financial companies. This ruling, based on historical precedent, allows the consumer watchdog to continue its legacy of handling millions of complaints and providing billions of dollars in relief to the American people.

Narrative B

Unfortunately, this ruling is in line with the Constitution, but that means it's up to Congress to make a change. Just because the CFPB is allowed to fund itself via the Federal Reserve doesn't mean it should. By handing virtually all of its Constitutional budgetary powers to the executive branch, Congress has allowed these agencies to become bloated and unregulated.

Metaculus Prediction

There's a 50% chance that the next great financial crisis in the US will occur in 2029, according to the Metaculus prediction community.


Articles on this story