Government
Oct. 13, 2016
Court's downgrading of CFPB's independence seen as victory for businesses
In addition to the making the bureau's director now able to be fired by the president at will, some experts said the ruling may call into question all previous fines levied by the bureau, which amount to $1.7 billion to date.
Daily Journal Staff Writer
A circuit court ruled Tuesday that the Consumer Financial Protection Bureau was unconstitutionally structured at its 2010 creation by Congress, and downgraded the entity's status from an independent agency to one under the supervision of the executive branch.
In addition to making the bureau's director now able to be fired by the president at will, some experts said the ruling may call int...
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