US Supreme Court Has Told A Coalition Of 27 State GOP Attorneys General To Bugger Off In CFPB Litigation

The US Supreme Court has told a coalition of 27 Republican state attorneys general to bugger off. The high court denied their request to join oral arguments against the constitutionality of the Consumer Financial Protection Bureau. The case is going to the U.S. Supreme Court in the coming months. The case will decide the constitutionality of it using the Federal Reserve as it’s funding source. Thus, a ruling by the high court could decide the fate of the Bureau itself.

Bloomberg Law is reporting that the unsigned order states the high court declined the motion. The motion would have allowed the AGs to challenge the Bureau’s funding mechanism. Republicans have been arguing for years that the CFPB’s funding violates the US Constitution’s separation of powers.

The AG coalition is also attempted to make the argument that a “special understanding of how an unbounded CFPB can damage the consumer-financial markets—and impair the States’ own abilities to regulate those markets,” 

However, the high court was unmoved. As a result, they issued its unsigned order on Monday. The Supreme Court was also not expected not to grant the motion since the Supreme Court rarely admits such petitions.

Joining West Virginia AG Patrick Morrisey in the effort were also attorneys general for:

• Alabama
• Alaska
• Arkansas
• Florida
• Georgia
• Idaho
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Mississippi
• Missouri,
• Montana
• Nebraska
• New Hampshire
• North Dakota
• Ohio
• Oklahoma
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Virginia
• Wyoming.

The Supreme Court has scheduled oral arguments in the case to take place on October 3, 2023. However, the court is not expected to make a final ruling until sometime in 2024. The CFPB has also put some enforcement actions on hold pending the court’s decision.

Read More About The CFPB On MFI-Miami.com

Also, Check Out This Article About The Constitutionality Of The CFPB:

PHH Raises White Flag In The Fight With The CFPB