May 16, 2023 — Amicus Brief

Amici curiae are ten organizations devoted to advocacy on behalf of consumers of financial services whose interests are protected by the Consumer Financial Protection Bureau (CFPB). Amici support the regulatory and enforcement initiatives that the CFPB has undertaken since its creation, including the payday lending rule at issue in this case. Amici, and the consumers whose interests they represent, would be adversely affected if this Court were to affirm the Fifth Circuit’s holding that all of the CFPB’s actions,
from its inception, have been tainted by a statutory funding provision that, in the Fifth Circuit’s view, violates the Constitution’s Appropriations Clause.

Amici submit this brief to assist the Court in understanding that the court of appeals’ radical ruling has no grounding in a proper understanding of the Appropriations Clause, which commands only that federal expenditures be authorized by law—a command with which the CFPB’s funding statute fully complies.

The amici joining this brief are Public Citizen, Americans for Financial Reform Education Fund, Consumer Action, Consumer Federation of America, Consumer Reports, Electronic Privacy Information Center, National Association of Consumer Advocates, National Consumer Law Center, Student Borrower Protection Center, and U.S. Public Interest Research Group. The appendix to this brief provides a brief description of each amicus.