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ABA: The American Bankers Association
Statement

ABA Statement on Supreme Court's CFPB Ruling

“Today’s decision from the U.S Supreme Court on the constitutionality of the CFPB’s leadership structure resolves important questions surrounding the Bureau’s design and its future. We still believe that Congress has an opportunity to strengthen the CFPB over the long term by converting the Bureau into a five-member, bipartisan commission as envisioned in drafts of the Dodd-Frank Act. This important change would balance the Bureau’s needs for independence and accountability, while broadening perspectives on rulemaking and enforcement. It would also ensure the CFPB's long-term stability, which would benefit consumers, financial institutions and the broader economy.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $18 trillion in deposits and extend nearly $11 trillion in loans.

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Ian McKendry

(202) 663-5473

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