Some in the financial services industry are nervous about how the Supreme Court will rule in a payday lending industry challenge to the constitutionality of the Consumer Financial Protection Bureau (CFPB) that’s being heard this week.
A ruling against the powerful regulator in CFPB v. Community Financial Services Association of America (CFSA) (court file 22-448), which will be heard on Oct. 3, could cause vast economic upheaval, an attorney representing big players in the financial sector said.
