CFPB Urges 5th Circ. To Reject Constitutional Challenge

By Jon Hill (September 11, 2018, 9:57 PM EDT) -- The Consumer Financial Protection Bureau pushed back Monday against a Mississippi check cashing and payday loan company's arguments that the federal agency is unconstitutionally structured, telling the Fifth Circuit that any such flaws no longer exist now that a new acting director is in charge, if they ever existed at all.

The CFPB's brief said that All American Check Inc.'s appeal is based on a view that it's unconstitutional for the agency to be led by a single director whom the president cannot fire at will. But this structure is consistent with U.S. Supreme Court and Fifth Circuit precedent, the agency...

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