Second Circuit Court of Appeals Court Finds that CFPB Funding is Constitutional

In a unanimous decision the Second Circuit Court of Appeals ruled that the Consumer Financial Protection Bureau’s funding structure is constitutional, upon upholding the enforcement of an investigative demand that the agency issued against a debt collection law firm. In the court’s decision, they also stated that they “could not find any support” for the Fifth Circuit’s October 2022 ruling that the CFPB’s funding was unconstitutional. This decision may aid the CFPB in its upcoming Supreme Court case reviewing the constitutionality of the agency’s funding.

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