A gut-punch for the CFPB: Court rules independent director is unconstitutional
A 2-1 ruling by a judicial panel of the U.S. Court of Appeals for the D.C. Circuit says that the Consumer Financial Protection Bureau, as currently composed, is unconstitutional. Joe Mont has more.
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A Trump administration promises to roll back the SEC, the CFPB, Dodd-Frank, and Obamacare. But that is all much easier said than done, reports Joe Mont.
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CFPB’s legal setback goes beyond constitutionality
A successful legal challenge against the constitutionality of the CFPB doesn’t mean it will go away anytime soon. It should, however, prompt companies to rethink dealings with the agency. Joe Mont has more.
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News BriefCFPB scraps bad-actor registry, citing cost-benefit issues
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”