Supreme Court Archives - Americans for Financial Reform

News Release: Supreme Court Expands Power of Right-Wing Judges to Hamper Regulation

Today’s Supreme Court ruling in Loper Bright Enterprises v. Raimondo will give judges who are already concocting ridiculous reasons to strike down sensible protections, particularly in the notoriously pro-industry Fifth Circuit, greater leeway to strike down common-sense measures that protect people and communities. With Loper Bright in hand, judges are required to “exercise their independent judgment” when deciding whether an agency has acted within its statutory authority, even if judges lack the necessary expertise, and even if that judge might prefer deference to agency decisions.

News Release: Supreme Court’s Ruling Against In-House Judicial Experts Threatens Enforcement

Today’s ruling by the Supreme Court curbing the Securities and Exchange Commission’s (SEC) ability to hear complicated cases in front of expert administrative judges will drive litigation into the federal courts where companies and lobbyists will be able to, as they increasingly do, shop around for a pro-industry judge. Today’s 6-3 Supreme Court ruling in SEC v. Jarkesy now gives businesses and wrongdoers more Constitutional rights than most consumers and employees in America and sets a bad precedent by chipping away at an agency’s ability to meaningfully hold corporations accountable.

Event: Senator Warren, AFR, Celebrate Victory in CFPB Case on Supreme Court Steps

Americans for Financial Reform joined Sen. Elizabeth Warren and other coalition members on the steps of the Supreme Court Thursday to celebrate the Court’s favorable ruling in CFPB vs. CFSA, a case in which the payday lending lobby, with the support of Wall Street, sought to destroy the funding mechanism of the Consumer Financial Protection Bureau.

News Release: Supreme Court Delivers Rare Good News for Consumers

The Supreme Court has upheld the constitutionality of the funding method Congress chose for the Consumer Financial Protection Bureau, allowing a vital agency to continue its work in holding Wall Street and predatory lenders to account, and promoting economic and racial justice. The case stems from a lawsuit against the CFPB brought by the Community Financial Services Association over a regulation that prohibited lenders from withdrawing funds from consumer accounts after two failed attempts due to lack of funds. CFSA, a lobby group for payday lenders, argued that the CFPB’s funding, which is drawn from the Federal Reserve, is unconstitutional.

News Release: A Wave of Pro-CFPB Amicus Briefs Demonstrate Overwhelming Support for the CFPB’s Constitutionality

Washington, D.C. – Hundreds of public interest groups, lawmakers, constitutional law scholars and more filed amicus briefs with the Supreme Court this week in support of the Consumer Financial Protection Bureau (CFPB) in the case, CFPB v. CFSA, which the Supreme Court will review this fall.

News Release: Consumer Groups Urge Supreme Court to Uphold the Constitutionality of the CFPB

The Fifth Circuit’s radical and unprecedented decision in the case of CFPB vs. CFSA, if confirmed, would undermine the critical work carried out by the CFPB in protecting consumers and enforcing regulations on Wall Street and predatory lenders, according to an amicus brief filed by consumer advocates.

News Release: Solicitor General’s Brief Condemns Fifth Circuit’s Unconstitutional Decision Against the CFPB

Washington, D.C. – The Solicitor General submitted today a brief supporting the Consumer Financial Protection Bureau (CFPB) in the case CFPB v. CFSA. The Supreme Court will hear the case this fall, reviewing a radical and unprecedented Fifth Circuit decision that held the CFPB’s funding structure unconstitutional and sided with predatory pay-day lenders over CFPB rulemaking designed to protect consumers.

Blog: CFPB Supreme Court Case Draws Greater Attention as Threat to Federal Reserve

The gravity of what will be a landmark Supreme Court case involving the funding of independent agencies has become increasingly apparent to observers of the judiciary. Numerous media reports have highlighted how the case, aimed at the Consumer Financial Protection Bureau, threatens to upend the funding for many federal agencies, above all the Federal Reserve.

News Release: Supreme Court Signals Gravity of Fifth Circuit Ruling by Taking CFPB Case

Washington, D.C. – The Supreme Court’s decision to take up a case in which the Fifth U.S. Circuit Court of Appeals attacked the funding mechanism of the Consumer Financial Protection Bureau recognizes that the lower court has produced a decision threatening consumers, honest businesses, and the financial system itself.

Amicus Brief: Uphold the President’s Cancellation of Student Debt

AFR joined partners as amici in urging the United State Supreme Court in upholding the President’s plan to cancel up to $20,000 in student loan debt for borrowers. This cancellation has the power to shift the racial wealth gap, free borrowers of the weight of student loan debt and potentially plant BIPOC communities on even ground with their white counterparts.