Why CFPB Backers are Cautiously Optimistic

Also, Fed likely to delay vote on CRA after its top lawyer raises concerns; central bank (very belatedly) joins Instagram

With a strong conservative majority that has deep suspicions of the administrative state, many expect the Supreme Court to deal a fatal blow to the CFPB. But a number of the consumer bureau’s supporters are cautiously optimistic ahead of tomorrow’s oral arguments that the justices won’t find its funding unconstitutional. Or that a decision against the r…