CFPB Defends Constitutionality Of Its Structure In 2nd Circ.

Law360 (March 18, 2019, 10:17 PM EDT) -- The Consumer Financial Protection Bureau told the Second Circuit on Friday the Dodd-Frank Act provision protecting its director from being fired at will by the president isn't unconstitutional, and even if it were, there's a better, far less drastic solution than one advanced by a Manhattan federal judge last summer.

In a nearly 12,000-word brief, the CFPB argued that U.S. District Judge Loretta Preska got it wrong in June when she held the agency to be unconstitutionally structured under Dodd-Frank's Title X and struck down that section of the law entirely, knocking the legs out from under the agency's case against...

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