The Supreme Court is hearing oral arguments in a case challenging the CFPB's funding structure.
A former FDIC official said an adverse ruling could risk Social Security and Medicare.
Any agency that doesn't rely on annual funding from Congress would be jeopardized, she said.
AdvertisementAdvertisementStill, advocates and lawmakers have stressed the importance of preserving the CFPB's funding structure to protect consumers from the potential fallout.
A bad decision in the Supreme Court could wreck the financial security of millions of families and turn our economy upside down."
Persons:
—, Sheila Bair —, Federal Deposit Insurance Corporation —, Bair, Dodd, Frank Wall, Shahid Naeem, Massachusetts Sen, Elizabeth Warren, Warren
Organizations:
FDIC, Security, Service, Financial, Community Financial Services Association of America Ltd, Federal Reserve, Fifth Circuit, Federal Deposit Insurance Corporation, Social Security, Frank Wall Street Reform, Consumer Protection, American Economic Liberties Project, Congress
Locations:
Massachusetts