Democratic attorneys general from 17 states are seeking to intervene in a lawsuit challenging the makeup of the CFPB, contending that if allowed, the Trump administration will seek to dismantle the agency.
"According to numerous media accounts, the Trump administration is planning to fire and replace the current director as soon as possible," the attorneys general said in their motion to intervene in a lawsuit filed by PHH, a mortgage lender.
In that suit, a panel of the U.S. Circuit Court of Appeals for the District of Columbia ruled that the structure of the CFPB is unconstitutional because it is governed by a single director – currently Richard Cordray – who can only be removed for cause. The panel said that the president should be able to fire the director for any reason, but stayed that order.
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