Bloomberg Law
May 18, 2023, 5:06 PM

Housing Industry Warns of ‘Chaos’ in Broad CFPB Funding Ruling

Evan Weinberger
Evan Weinberger

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 ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.