The full U.S. Court of Appeals for the D.C. Circuit will take a fresh look at a ruling that struck down the Consumer Financial Protection Bureau's structure as unconstitutional, setting the stage for a legal fight that carries significant implications for the future of the agency in the Trump administration.
The D.C. Circuit's decision Thursday gives the CFPB another chance to defend itself as Republicans in Congress, emboldened by the election of President Donald Trump, push to roll back the agency's authority. Sen. Ted Cruz, R-Texas, this week filed a bill to abolish the agency as other Republicans continued their legislative push to turn the CFPB into a bipartisan commission.
In a two-page order, the D.C. Circuit vacated a three-judge panel ruling in October in which Judge Brett Kavanaugh railed against the "massive, unchecked power" of the CFPB, an independent agency that was born out of the Dodd-Frank financial reforms.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
