Trump Administration Files Motion Aimed At Controlling Consumer Protection Agency
Source: NPR
March 17, 20178:24 PM ET
The Trump administration has gone to court to try to bring the Consumer Financial Protection Bureau under its control. The bureau is an executive branch entity, but the president doesn't have direct control over the six-year-old agency.
The Justice Department filed a brief with a federal appeals court in Washington on Friday, making the case that the structure of the agency violates the Constitution.
NPR's Chris Arnold reports that, by law, the head of the bureau can be fired by the president but only for "inefficiency, neglect of duty or malfeasance."
<snip>
President Trump has larger targets in the financial services area, as NPR's Yuki Noguchi and Tamara Keith have reported:
"Trump signed two directives on Feb. 3, ordering a review of financial industry regulations known as Dodd-Frank and halting implementation of a rule that requires financial advisers to act in the best interests of their clients, according to a senior administration official who briefed reporters on condition of anonymity.
Read more: http://www.npr.org/sections/thetwo-way/2017/03/17/520204967/trump-administration-files-motion-aimed-at-controling-consumer-protection-agency
And he continues flinging his shit far and wide.
The Velveteen Ocelot
(115,732 posts)IronLionZion
(45,451 posts)He'll put the financial industry in charge of protecting consumers.
Wait until next week when he outsources America's cybersecurity to the Russians
dalton99a
(81,515 posts)DK504
(3,847 posts)lose any money over illegal trades.
ProudLib72
(17,984 posts)it is not safe to walk anywhere because you might be run over for protesting, drink water that might be contaminated, and now buy anything. Best thing to do is sit inside and watch how wonderful our country has become on Faux Newz.
Panich52
(5,829 posts)Actually anti-populist Dumpf wouldn't be able to kill it in Congress so he's trying his favorite retribution venuecourt.
groundloop
(11,519 posts)riversedge
(70,242 posts)Trump talks like a real bully!
....President Trump has larger targets in the financial services area, as NPR's Yuki Noguchi and Tamara Keith have reported:
"[Trump] signed two directives on [Feb. 3], ordering a review of financial industry regulations known as Dodd-Frank and halting implementation of a rule that requires financial advisers to act in the best interests of their clients, according to a senior administration official who briefed reporters on condition of anonymity.
"Trump himself made his intentions clear in a meeting with small business owners Monday. 'Dodd-Frank is a disaster,' Trump said. 'We're going to be doing a big number on Dodd-Frank.'
"These executive actions are the start of a Trump administration effort to reverse or revise financial regulations put in place by the Obama administration and seen by Trump and his advisers as onerous and ineffective."
question everything
(47,486 posts)Hey, let's go back to the Great Recession. To high rate of unemployment.
Reminds me of when Reagan was determined to undo the New Deal but was not successful.
pat_k
(9,313 posts)He will not be satisfied until the power of the U.S. President is completely unfettered. Watch for attempts to undermine the independence of Securities and Exchange Commission and the Commodity Futures Trading Commission.
Igel
(35,320 posts)We have a three-part government. Judicial, legislative, executive. Each has a bit of in-house legislative, executive, and judicial, but only for their own purposes. Nirvana for governing.
The consumer protection agency. Is it judicial, legislative, or executive?
If legislative, then it's not enforcing laws. If executive, well, all executive authority is invested in the president.
It'll come down to precedent--we've let the legislative intrude on the executive and the executive to bypass the legislative many times in the past.
pat_k
(9,313 posts)There is precedent. There are a number of governmental functions that don't fall neatly into one of the three branches. For example, the Federal Election Commission (http://www.fec.gov/about.shtml )
And then there's the Federal Reserve. It falls under "executive authority" only in so far as the power to appoint members of the board of governors is given to the president. The Fed's power to enact policy is granted by legislation, but the policies it sets are not subject to the approval of anyone in the legislative or executive branch. Members of the board of governors serve terms that are longer than that of the president. The legislators who created the Fed, and over the years have modified the law governing it, recognized the importance of creating a body empowered to set policy with a great deal of autonomy.
Similarly, legislators who shaped the laws governing the Consumer Protection Agency recognized the agency's purpose required some level of independence. The director does not serve "at the pleasure of the president," they are only subject to dismissal if the president can demonstrate inefficiency, neglect of duty, or malfeasance in office.
Here is a list of "Independent Regulatory Agencies" as defined by 44 U.S.C. §3502(5)
https://www.law.cornell.edu/uscode/text/44/3502
Generally, the heads of these agencies can only be removed for cause, or they are governed by a board. Some governed by a board have limits the number of members of one political party who may serve at any one time. They usually have both rulemaking and adjudicative functions.
The status of the trade commission as an independent agency is discussed in Humphrey's Executor v. United States (1935). Justice Sutherland, writing for a unanimous court, wrote:
Undoubtedly there are many other cases over the years addressing the question of the limits of presidential authority over certain purportedly 'executive" agencies, but I think it is pretty clear that congress and the courts (and rational presidents) recognize that some functions need to be insulated from political interference. Unfortunately, some of these agencies don't have the power to litigate on their own behalf, and must instead rely on the Department of Justice -- a fatal flaw as far as I'm concerned.
Reagan did a good job of stripping away the independence of many "independent" agencies. DT is determined to finish the job. Whatever success he has will be EXTREMELY damaging to the country for a long time to come.
Initech
(100,080 posts)Fuck these fucking assholes!!!!