DOJ Brief Opposing CFPB Brings More Uncertainty
Reade Jacob On March 17, the U.S. Department of Justice submitted a brief to the D.C. Circuit asserting that the Consumer Financial Protection Bureau’s single-director structure violates the Constitution’s separation of powers in the CFPB v. PHH Corporation case.
CFPB’s Single Director Structure
The Democratic-controlled 111th Congress created the CFPB as part of the Dodd-Frank Act in the wake of the 2008 financial crisis. Since then, the CFPB has acted as a watchdog over the consumer-finance industry, including loans, credit cards, and...
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