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Court upholds constitutionality of Consumer Financial Protection Bureau

A federal appeals court has upheld the constitutionality of the Consumer Financial Protection Bureau's structure, a decision that preserves the agency's independence in the face of challenges from business interests and conservatives. The D.C. Circuit Court of Appeals ruled 7-3 on Wednesday that a provision in the 2010 Dodd-Frank law that limits the president's ability to remove the CFPB director during his or her five-year term does not violate the president's authority to appoint and remove executive branch officers.
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