May 16, 2024
Good Morning,
ALERT!
Today, the
United States Supreme Court issued its ruling on CFPB v. CFSA.
In a 7-2
decision, the court rejected an argument that the CFPB’s funding
method violated the U.S. Constitution’s Appropriations Clause.
You can read the
story
here and the legal opinion
here.
WHAT DOES THIS
MEAN FOR THE PAYDAY RULE?
We will need to
wait for more information and legal reviews. However, the
decision does not bode well for reversing the payday rule
payment provision, barring further challenges and court
decisions.
Stay tuned for
more information to follow.
- Max
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