Tag Archives: Supreme Court

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: 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.

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.