SCOTUS

Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice.

Kathy Kraninger told the House Financial Services Committee that she supports proposed action to revamp the bureau's leadership framework following a major Supreme Court decision.

A recent ruling declaring the Consumer Financial Protection Bureau’s structure unconstitutional signaled that a similar outcome awaits the Federal Housing Finance Agency. But the FHFA will argue in a new case that it does not deserve the same fate.

The high court ruled June 29 that the structure of the Consumer Financial Protection Bureau violated the separation of powers.

The U.S. Supreme Court cleared a New York grand jury to get President Donald Trump's financial records while blocking for now House subpoenas that might have led to their public release before the election.

The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.

As PPP enters forgiveness phase, some banks see outsourcing as best move; after the Fed’s stress tests, Wells Fargo to cut dividend while other big banks boost capital buffer; Supreme Court strikes down CFPB leadership structure; and more from this week’s most-read stories.

Legal experts say it is now more likely that the Supreme Court will strike down the single-director governance framework for Fannie Mae and Freddie Mac’s regulator.

The Consumer Financial Protection Bureau's leadership structure could be set for a revamp, but there may be political reasons for both parties to maintain the status quo. Either option could prove problematic for the industry.

Credit unions won the day as the Supreme Court rejected an appeal that would have limited consumers' access to financial services. Now Congress must act to remove those field-of-membership restrictions entirely.