10/17/19, 9:47 AM

Supreme Court Brief filed over CFPB constitutionality concerns

 

Supreme Court Brief filed over CFPB constitutionality concerns

On behalf of the financial bureau, the Department of Justice has formally filed a brief with the Supreme Court asking the courts to determine if the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional. 

In its brief with the Supreme Court, the Justice Department urged the justices to take up the case and find the structure of the agency unconstitutional. Director of the CFPB, Kathy Kraninger, has said "I have decided that the Bureau should adopt the Department of Justice's view that the for-cause removal provision is unconstitutional." 

The argument is that the Bureau has too much power, and that the Director should be held accountable to the President by being able to be fired at will instead of for cause. 

Topics: Regulatory and Compliance

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