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Supreme Court to Weigh CFPB Constitutionality

The U.S. Supreme Court has announced that it will consider a legal challenge to the Consumer Financial Protection Bureau, taking up the case of law firm Seila Law, which refused to comply with the regulator. So reports The Hill.

Seila Law and the Trump administration contend that the provision of the 2010 Dodd-Frank Act that created the CFPB is unconstitutional because it blocks the President from firing a CFPB director except “for cause.”

House Democrats had called on the Supreme Court to rebuff Seila Law’s appeal, arguing that the financial regulatory agency—the brainchild of Sen. Elizabeth Warren (D-Mass.)—did not go against the constitutional separation of powers.

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