Consumer Financial Protection Bureau v. Community Financial Services Association of America, Limited

The Supreme Court case Consumer Financial Protection Bureau v. Community Financial Services Association of America, Limited centered on the funding of the Consumer Financial Protection Bureau (CFPB). The CFPB, established after the financial crisis of 2007–08, issued a rule to regulate payday lenders. Trade associations representing payday lenders challenged this rule, arguing that the CFPB's funding mechanism—receiving money from the Federal Reserve rather than through congressional appropriations—violated the U.S. Constitution's appropriations clause.

In May 2024, the Supreme Court ruled that the CFPB's funding is constitutional, stating that it is authorized by law from a specified source of public money for designated purposes. This decision upheld the CFPB's actions and its ability to protect consumers from deceptive, unfair, and abusive financial practices.12