A federal appeals court on Tuesday ruled that the organization of the CFPB is unconstitutional since it is operated by a single person, but the court said that the agency may continue to operate.
The bureau will operate as a federal agency whose director is supervised and may be removed by the president, according to the court ruling.
Agency officials vowed to continue their work, although NAFCU President/CEO B. Dan Berger called for an immediate halt to the CFPB's rulemaking process.
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