10.18.19
The Supreme Court has agreed to hear a case that challenges the constitutionality of the Consumer Financial Protection Bureau (CFPB) based on the ability of the President to only dismiss the CFPB director “for cause”. One of the key questions they will explore is whether the for-cause provision can “be severed” from the Dodd-Frank Act. The decision will have far-reaching ramifications, as a decision against the CFPB could impact other regulators, such as the Federal Housing Finance Agency, that are run by a single director.
Read more via American Banker.