A federal appeals court decision Wednesday upholding the lawfulness of the Consumer Financial Protection Bureau’s independent, single-director design will carry wide implications as companies continue to challenge the agency and sets the stage for a final showdown in the U.S. Supreme Court.
The decision Wednesday upholding the power structure at the agency won’t be the last word on the case. Either side could decide to take the dispute to the U.S. Supreme Court, and things could get tricky there.
For the moment, the D.C. Circuit’s ruling in PHH v. CFPB keeps the status quo—the president can only remove the agency director for cause, not at will, a protection that kept the Obama-appointed director, Richard Cordray, in power.
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C. Ryan Barber
C. Ryan Barber, based in Washington, covers government affairs and regulatory compliance. Contact him at [email protected]. On Twitter: @cryanbarber
