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the court rejected claims that the CFPB’s use of the Federal Reserve System for funding unlawfully circumvented Congress’ monetary authority. Established in 2011, the CFPB is shielded from yearly political pressure during the congressional appropriations processes. If the lawsuit against CFPB had been successful, every action taken by the CFPB since its creation could have been invalidated.
It's a sign that your legal theory is too extreme when Justice Clarence Thomas leads a lopsided majority in rejecting it. That just happened in a case that highlights not the greatness of the Supreme Court but, instead, the radicalism of the even-further-right 5th U.S. Circuit Court of Appeals, which the Thomas-led court had to reverse.
The appeal involved a payday lender-backed challenge to the Consumer Financial Protection Bureau. Breaking new ground, a Donald Trump-appointed 5th Circuit panel deemed its funding structure unconstitutional. The watchdog agency is funded through the Federal Reserve instead of annual appropriations...
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