U.S. Supreme Court to Hear Challenge to Consumer Financial Protection Bureau
Posted on 10/19/2019
The U.S. Supreme Court revealed it would take on a case on whether the Consumer Financial Protection Bureau (CFPB) is unconstitutional. The CFPB was authorized by the Dodd–Frank Wall Street Reform and Consumer Protection Act and it has a single executive director in which a U.S. president cannot fire-at-will. Some legal experts argue that the ability of not being able to fire the CFPB executive by the U.S. president is a violation of the president’s constitutional powers.
A number of outcomes could occur including: permitting the executive branch to be able to fire the CFPB director, uphold the current structure of CFPB, or dismantle the CFPB.
The case is Seila Law v. Consumer Financial Protection Bureau, No. 19-7.