I work with the CFPB very regularly so I follow this stuff closely.   This issue has already been decided by the US Supreme court only about 2 years ago in the the PHH Case and concluded the only thing unconstitutional  about the Bureau was the fact that the director could only be removed for cause.  They Made him "at-will" and sent everyone on their way.    (also the CFPB is hardly the only "self-funding" agency in the Fed gov, most of the financial regulators are)

I suspect the 5th circuit  en banc will say exactly that and the SCOTUS will deny cert.    But the 5th is the Trumpiest Circuit in the country and the SCOTUS is anyone's guess right now.


The interesting thing is that  the Payday Lending issue cuts across traditional partisan lines.  Some of the reddest states have some of the strictest restrictions on payday loans/   And the reason why is actually pretty obvious.   Red States tend to be poorer and payday lenders are economic vampires, The take money out of circulation and do nothing to boost consumer spending or the local economy.      a Person who borrows $1,000 for an emergency will not like have the $1,200 two weeks later, so they have to re-up the loan, and pay a $200 origination fee to do it.    At the end of the year you can have paid about $5,200 to the lender and sti;;ll owe them $1,500 for the $1,000 you borrowed,  Even the old mob loan sharks would blush at that

koder: Court of Appeals for the Fifth Circuit

*Eyeroll*... No worries CFPB, just keep going. Nobody's listening to these hacks nowadays anyway and the overwhelming majority of the country approves of you.

That's more or less what several CFPB attorneys has said to me directly

jayphat: koder: Court of Appeals for the Fifth Circuit

*Eyeroll*... No worries CFPB, just keep going. Nobody's listening to these hacks nowadays anyway and the overwhelming majority of the country approves of you.

This. Several other federal courts have ruled they are fine. Judge shopping at its finest.

Including the Scotus not two years agp