Supreme Court upholds funding structure for CFPB

Washington — The Supreme Court on Thursday upheld the funding structure for the Consumer Financial Protection Bureau (CFPB), rescuing the consumer finance agency from another effort by its critics to weaken it.

The court said in a 7 to 2 decision that the agency's funding structure complies with the Constitution's Appropriations Clause. Justice Clarence Thomas authored the majority opinion. Justices Samuel Alito and Neil Gorsuch dissented.

The dispute, brought by two trade associations, posed a significant threat to the agency and its continued operations, and defenders of the CFPB warned a broad decision could jeopardize regulatory and enforcement actions it's taken since its creation 14 years ago and disrupt markets.