Appeals court rules consumer bureau's structure is constitutional
Source: The Hill
Language in the Dodd-Frank Act that establishes the Consumer Financial Protection Bureau’s independence from Congress is constitutional, the U.S. Court of Appeals for the District of Colombia Circuit ruled Wednesday, overturning a 2016 ruling by three of the court's judges.
In a review of the court’s previous decision in PHH vs. CFPB, the full panel held that the CFPB can exist as an independent agency with a sole director only fireable by the president for “inefficiency, neglect of duty, or malfeasance” without violating the Constitution's limits on executive power.
Judge Nina Pillard, who wrote the court’s opinion, cited the precedent set by Humphrey’s Executor v. United States, a 1935 case reaffirming the legality of the Federal Trade Commission’s independent, sole-director structure.
We follow that precedent here to hold that the parallel provision of the Dodd-Frank Wall
Street Reform and Consumer Protection Act shielding the Director of the CFPB from removal without cause is consistent with Article II.”
Read more: http://thehill.com/policy/finance/371603-dc-circuit-consumer-bureaus-structure-is-constiutional?rnd=1517414045/?userid=216387
= new reply since forum marked as read
