CFPB official seal. CFPB official seal. (Source: Shutterstock)

Recently the Fifth Circuit Court of Appeals ruled that the CFPB's funding structure is unconstitutional. The Court used this ruling to justify throwing out the CFPB's 2017 rule that, prior to its being watered down by the Trump Administration in 2020, required payday lenders to meet basic lending standards, such as determining a borrower's ability to repay a loan. Some in our industry celebrated the ruling.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.