This story appeared in Bank Digest.
Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) has issued a statement as the Supreme Court is set to hear oral arguments in Seila Law v. CFPB, a case to determine whether the Consumer Financial Protection Bureau is constitutionally structured. In his statement, Brown said that the decision to create the CFPB “has been vindicated by the more than $12 billion that the CFPB has returned to consumers and the millions of consumers who have been protected from predatory practices. It’s telling that the only agency the White House is legally challenging is the one created for the sole purpose of protecting consumers.”