February 27, 2023

Scott Statement on SCOTUS CFPB Announcement

Washington, D.C. – U.S. Senate Banking Committee Ranking Member Tim Scott (R-S.C.) released the following statement after the U.S. Supreme Court announced it will consider the decision by the U.S. Court of Appeals for the Fifth Circuit that found the funding structure of the Consumer Protection Financial Bureau (CFPB) to be unconstitutional:

“The CFPB has long been an agency that lacks transparency and seeks to operate beyond its jurisdiction. I look forward to reviewing the Supreme Court’s decision, when the time comes, and continuing my efforts to hold the CFPB accountable to the American people and Congress.”