Appeals court CFPB ruling a big win for consumers

Source: Paul Bland, Public Justice (The Hill)

In 2016, a panel of three judges of the U.S. Court of Appeals for the D.C. Circuit held that the structure of the Consumer Financial Protection Bureau (CFPB) was unconstitutional. 

Wednesday, the D.C. Circuit voted 7-3 in an en banc decision (meaning the entire court heard the case, not just three members picked at random) to overturn the panel and held that the CFPB’s structure is indeed constitutional.

The decision of the full court, in an opinion by Judge Cornelia Pillard, tells us something very important about other challenges to the current leadership of the CFPB — that it is essential (and the Congress that passed Dodd-Frank considered that it was essential) that the bureau be independent.

Read Full Article: Appeals court CFPB ruling a big win for consumers

 

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