The Supreme Court on Monday refused to hear a case challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB).
The State National Bank of Big Spring, the Competitive Enterprise Institute and the 60 Plus Association had asked the justices to review the U.S. Court of Appeals for the District of Columbia Circuit's decision to reject their challenge to the constitutionality of the CFPB’s structure as an “independent” agency.
The federally chartered bank and advocacy groups argued Congress created the CFPB in response to the financial crisis of 2008–2009 for the express purpose of exercising exclusive federal authority over all aspects of consumer finance, but stripped away all traditional checks on the director’s exercise of this power.
The District of Columbia Circuit's decision to dismiss the case came after the court’s full panel of judges upheld the constitutionality of the agency’s structure in a separate case.
It takes four justices to agree to review a case. The court noted that Justice Brett KavanaughBrett Michael KavanaughGraham tries to help Trump and McConnell bury the hatchet Republicans keep distance from 'Justice for J6' rally Senators denounce protest staged outside home of Justice Kavanaugh MORE, President TrumpDonald TrumpCheney says a lot of GOP lawmakers have privately encouraged her fight against Trump Republicans criticizing Afghan refugees face risks DeVos says 'principles have been overtaken by personalities' in GOP MORE’s second Supreme Court nominee, took no part in the consideration or decision of this appeal. Kavanaugh had reviewed the case when he was on the District of Columbia Circuit and dissented from the court’s en banc ruling.
The Trump administration has regularly targeted the structure of the CFPB.
The Competitive Enterprise Institute said Monday it was disappointed by the court’s decision to turn down the case, but indicated that it was hopeful that other cases could be reviewed.
“The case raises constitutional issues of major importance regarding the Consumer Financial Protection Bureau, an agency that wields massive power over the economic activities of the public and sets a dangerous precedent for unaccountable federal bureaucracy,” Sam Kazman, Competitive Enterprise Institute's general counsel, said in a statement.
“But there are other pending lawsuits that raise these same issues, and we are hopeful the court will have another opportunity to review them.”