SCOTUS Eviscerates Payday Lenders For SLIMY Move

A group of payday lenders complained to the Supreme Court that the Consumer Financial Protection Bureau is unconstitutional, but that argument appears to fall of deaf ears. Ana Kasparian discusses on The Young Turks.

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"The case seeking to eviscerate the Consumer Financial Protection Bureau and void all of its regulatory decisions finally arrived on Tuesday for arguments at the Supreme Court. And it did not go well for the payday lenders who brought the case.

Since its inception in 2010, the financial industry broadly, and payday lenders specifically, have sought to destroy the agency, which is charged with protecting consumers from predatory financial practices. In Community Financial Services Association of America v. CFPB, payday lenders zeroed in on the agency’s funding mechanism as their means to invalidate agency rulings negatively impacting the payday lending industry."

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