CFPB Wins Full DC Circ. Review Of Leadership Ruling

Law360, New York (February 16, 2017, 1:43 PM EST) -- The D.C. Circuit on Thursday granted a request from the Consumer Financial Protection Bureau for a full-panel rehearing of an October decision that ruled the federal consumer finance watchdog’s structure unconstitutional.

A split three-judge panel found in October that the CFPB’s single-director leadership structure was unconstitutional, and rectified this by transforming the independent agency into an executive agency where the president could fire the CFPB’s director at will. The 2010 Dodd-Frank Act, which created the CFPB, only allowed for the president to fire the bureau’s director...
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