In Consumer Financial Protection Bureau v. Community Financial Services Assn. of America, Ltd., 601 U.S. ____ (2024), the U.S. Supreme Court upheld the funding scheme that supports the Consumer Financial Protection Bureau (CFPB or Bureau). By a vote of 7-2, the Court held that Congress’ statutory authorization allowing the CFPB to draw money from the earnings of the Federal Reserve System to carry out the bureau’s duties satisfies the Constitution’s Appropriations Clause.
