Supreme Court Unlikely to Strike Down Consumer Agency, Avoiding Economic Chaos

The Supreme Court appears unlikely to strike down the Consumer Financial Protection Bureau (CFPB) as unconstitutional. Even conservative justices questioned the poor arguments made by a lawyer urging them to invalidate the agency.
Striking down the CFPB could cause economic chaos, as it writes key rules for the mortgage industry. This could potentially trigger another Great Depression.
The lawyer argued the CFPB's funding structure makes it unconstitutional, but struggled to explain why or how his theories would work. The justices seemed baffled and frustrated.
Nearly two-thirds of federal spending has "perpetual" funding like the CFPB, including Medicare and Social Security. The lawyer denied wanting to invalidate these programs but couldn't articulate where to draw the line.
Despite an increasingly conservative Court, it seems only 3-4 justices are open to these radical arguments. The Fifth Circuit appeals court bought similar theories, but the Supreme Court appears likely to reverse that rogue decision.

vox.com

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Posted 10/3/2023, 5:40:00 PM