WASHINGTON—A lawsuit before the Supreme Court on Tuesday could threaten more than a decade’s worth of rules governing the mortgage industry, credit cards, student-loan companies and more. The CFPB, created by Congress as part of the 2010 Dodd-Frank financial overhaul, was intended to safeguard consumer welfare following the financial crisis. If the justices uphold the appeals court’s decision and issue a sweeping ruling, they could sow confusion, legal experts and several industry groups say. Some industry groups fear those safe harbors would be jeopardized if the CFPB’s rules are tossed out, subjecting them to lawsuits. Other industry groups, meanwhile, have urged the court to curb the CFPB.

Source: Wall Street Journal October 03, 2023 17:20 UTC