Real estate trade groups told the Supreme Court that the mortgage market would face chaos if it declares the CFPB’s funding to be unconstitutional but fails to assure that existing agency regulations remain valid.
The high court has agreed to hear later this year CFPB v. Community Financial Services Association, in which the payday lending industry is challenging that the Consumer Financial Protection Bureau’s independent funding is unconstitutional.
“This Court should take care not to call into question current CFPB regulations, including those governing the real-estate financing industry, which could lead to immediate and intense disruption to the housing ...
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