Supreme Court Weighing Facts In Case Challenging Watchdog Funding

The U.S. Supreme Court will soon hear arguments in a court case that challenges the funding design of the federal Consumer Financial Protection Bureau.

Depending on how the high court rules, it could essentially shut down the agency that was created on Barack Obama's watch.

Sen. Elizabeth Warren, a Democrat from Massachusetts, has been credited with coming up with the idea for the agency.

I think that tells you all that you need to know.

Warren is already yelling about what might happen if the Supreme Court rules against her pet project.

A "bad decision by the Supreme Court could wreck the financial security of millions of families and turn our economy upside down," she claimed.

Beth Milito, executive director of the National Federation of Independent Business's Small Business Legal Center, has accused Warren's creation of "overstepping its bounds," saying:

Currently, the CFPB is funded without Congressional oversight through the appropriations process, which is unconstitutional and leads to the Bureau overstepping its bounds.