Tuesday’s hearing on the fate of the Consumer Financial Protection Bureau stood in contrast to previous cases challenging the administrative state in a big way: This time, the federal agency seems likely to win.
In my story summarizing nearly two hours of oral arguments for the National Law Journal, I focused on the skepticism expressed by Republican appointees like Justice Brett Kavanaugh about a challenge to the CFPB’s funding mechanism from the payday loan industry. Predicting the outcome of Supreme Court cases on arguments alone is rarely wise, but the hearing certainly gave reason for optimism to the consumer financial watchdog, which has faced an unending barrage of attacks by banks and other entities since it was established in the wake of the 2008 financial crisis.
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