The trade group, Online Lenders Alliance, said it too hopes the Supreme Court’s decision to hear the case will result in increased accountability at the agency.
“Supporters of the CFPB have long called the Bureau a ‘cop on the beat’, playing an important role in ensuring accountability from companies providing financial services and products,” OLA Executive Director Andrew Duke said in a statement. “But cops on the beat also have to be accountable for their actions and we hope that the Supreme Court’s review will result in a greater fairness, transparency, and accountability – which will better serve America’s consumers.”
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