The U.S. Supreme Court upheld the Consumer Financial Protection Bureau‘s funding mechanism in a challenge brought by the payday loan industry, handing a victory to the Biden administration and a setback to the agency’s conservative critics. Read more about the decision.
The 7-2 decision, authored by conservative Justice Clarence Thomas, reversed a lower court’s ruling that the CFPB’s funding design violated a provision of the U.S. Constitution called the “appropriations clause” giving Congress the power of the purse. The agency draws money annually from the Federal Reserve instead of from budgets passed by lawmakers.
Read the opinion.
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As federal appellate courts continue to grapple with questions about where online businesses can be sued, the 9th Circuit agreed on Tuesday to revisit the dismissal on jurisdictional grounds of a California consumer class action against nationwide online payment platform Shopify. The court’s en banc review, writes Alison Frankel, will undoubtedly address an issue with potentially huge implications for online businesses: Does it make sense for courts weighing jurisdiction for suits against internet defendants to draw a distinction between cases involving physical goods and those focused on online services?
Check out other recent pieces from our columnists: Alison Frankel and Jenna Greene
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