The US Supreme Court decided this week to hear a case that will consider the constitutionality of funding for the Consumer Financial Protection Bureau and, in doing so, test the constraints of US regulators’ power. But what's the CFPB? Here's what to know.
The US Supreme Court decided this week to hear a case that will consider the constitutionality of funding for the Consumer Financial Protection Bureau and, in doing so, test the constraints of US regulators’ power. The case would be heard in the fall, with a decision likely by summer 2024.
Both Hines and Saunders made a special note of CFPB’s actions against Wells Fargo, after the agency found the bank had been engaging in multiple abusive and unlawful consumer practices across several financial products between 2011 and 2022 — from auto loans to mortgage loans to bank accounts. Last month, the agency required the bank to pay more than $2 billion to customers who were harmed by such practices, plus a $1.7 billion fine that will go into a relief fund for victims.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kari Lake appeals loss in governor’s race to Arizona Supreme CourtKari Lake, the Republican who lost the Arizona governor’s race to Democrat Katie Hobbs, has asked the state Supreme Court to review her challenge of election results that has so far been rejected by the courts.
Read more »
Washington lawyer Tom Goldstein leaves Supreme Court practice, law firmLongtime Supreme Court advocate Tom Goldstein, who has argued more than 40 cases before the high court, said Wednesday that he is ending his practice and retiring from the Washington, D.C., law firm he co-founded in 2011.
Read more »
Biden shaky on whether Supreme Court will allow student debt plan to proceedPresident Biden on Wednesday said he is not confident that the Supreme Court will uphold his student-debt cancellation plan after several conservative justices expressed skepticism over the $400 billion program earlier this week.
Read more »
Adani: Indian Supreme Court opens panel into short seller allegationsAn independent panel set up by India’s Supreme Court is investigating the fraud allegations against billionaire Gautam Adani’s conglomerate Adani Group.
Read more »
UK Supreme Court hears landmark patent case over AI 'inventor'An American computer scientist on Thursday urged the United Kingdom’s Supreme Court to rule he is entitled to patents over inventions created by his artificial intelligence system, in a landmark case about whether AI can own patent rights.
Read more »