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CFPB Tells Supreme Court It’s Unconstitutional

In a reversal, the Consumer Financial Protection Bureau has sided with the Trump administration’s argument that the structure of the agency is unconstitutional. So reports Reuters.

!--more-->The CFPB joined with the Justice Department in a September 17 brief asking the Supreme Court to consider whether the law creating the CFPB violates the separation of powers doctrine because it says the agency’s director may not be fired without good cause.

While the Justice Department has previously made this argument in filings to the Supreme Court and the District of Columbia U.S. Circuit Court of Appeals, CFPB lawyers have previously argued the opposite. CFPB Director Kathy Kraninger confirmed the change in letters to Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi.

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