DC Circuit Reverses Decision Stripping CFPB of Autonomy
The second highest court in the country overturned a ruling that would have deprived the Consumer Financial Protection Bureau of independence. The DC Circuit Court of Appeals on Wednesday reversed a decision stating that the CFPB Director could be fired at-will by the President. “Congress validly decided that the CFPB needed a measure of independence and chose a constitutionally acceptable means to protect it,” Judge Cornelia Pillard wrote for a 6-3 majority. One Republican appointee joined all five Democrats presiding over the case to uphold the agency…