Thanks to a federal circuit court ruling Tuesday morning, the president will be able to remove the head of the Consumer Financial Protection Bureau, the agency charged with curbing abuse in the financial sector, for any reason. And the image of Donald Trump yelling, “You’re fired” at the head of the CFPB is only one reason to be upset by this.
Up until now, the president could only replace the CFPB head during his or her term for cause.
A U.S. appeals court on Tuesday ruled that the U.S. Consumer Financial Protection Bureau is unconstitutional because too much power is vested in the regulator’s sole director, but that it can continue operating with the director rem...
WASHINGTON ? A federal appeals panel ruled on Tuesday that the structure of the Consumer Financial Protection Bureau, the Wall Street watchdog conceived by Sen. Elizabeth Warren (D-Mass.), is unconstitutional. Rather than disband th...
An appeals court panel said the director of Consumer Financial Protection Bureau was too independent, so it gave the president the power to fire him at will.
An independent federal agency should not be run by a single person, the court found. It decided to remedy the situation by giving the president the authority to fire the agency head at will.