CFPB funding ruled legal by the Supreme Court, ending case that could’ve destroyed the watchdog

The case, brought by payday lenders, posed an existential threat to the consumer-focused agency, though critics had dismissed it as being legally flimsy.

In a major legal win for consumers, the U.S. Supreme Court on Thursday rejected an existential challenge to the Consumer Financial Protection Bureau (CFPB), ruling that the consumer watchdog does, indeed, have a legal funding structure.