Supreme Court Says ‘No’ to Payday Lenders; ‘Yes” to Consumer Protection 

The May 16 decision in the case  formally known as Consumer Financial Protection Bureau v. Community Financial Services Association of America LTD, ET AL refuted arguments by the billion-dollar payday lending industry that CFPB was unconstitutional because its funding is derived directly from the Federal Reserve instead of Congress’ annual appropriations. The majority opinion, written by Justice […]