Our founder’s newsletter, the Consumer Finance Breakdown, has a new post. There’s a Supreme Court case challenging the very constitutionality of the Consumer Financial Protection Bureau (CFPB), and the post What’s Going on with the CFPB? dives into the details around it.

In October 2023, arguments were heard by the Supreme Court between the Consumer Financial Protection Bureau (a federal government agency tasked with protecting consumers against unfair practices by large financial institutions) and the Community Financial Services Association of America (a lobbying group for consumer lenders). What started as a challenge to the CFPB’s Payday Lending Rule has evolved into a challenge to the constitutionality of the CFPB itself. The post explains the history of the CFPB, the history of the case, and ramifications of different outcomes. While we would like to predict the outcome of the case, it’s quite difficult to decide on firm expectations, especially for a Supreme Court decision.

Installmt’s mission to is to reduce Americans’ reliance on predatory financial products has clear by improving the availability of less harmful, better regulated products. This ties into the CFPB’s mission, but instead of regulations, Installmt looks for free market solutions. No matter how the court decides, Installmt will continue to provide its powerful, next-generation payments platform to lenders with the best interest of their borrowers at heart.

You can find the full Substack at installmt.substack.com or using the link in the footnotes of this page.