January 14, 2019 / 2:43 PM / a month ago

U.S. Supreme Court rejects challenge to consumer protection bureau

WASHINGTON, Jan 14 (Reuters) - The U.S. Supreme Court on Monday turned away a Texas bank’s constitutional challenge to the structure of the U.S. Consumer Financial Protection Bureau, passing up a case that could have led to more presidential power over an independent agency that President Donald Trump’s administration already has weakened.

The decision by the justices not to hear an appeal brought by State National Bank of Big Spring may not be the final word on the matter as three other cases involving the CFPB are heading toward the high court.

Reporting by Lawrence Hurley; Editing by Will Dunham

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