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 for cause. Thursday's grant of an en banc review vacated that ruling, standard procedure for...
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