CORRECTED-UPDATE 2-Appeals court upholds structure of U.S. consumer bureau [Reuters]
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Source: Reuters
Appeals court upholds structure of U.S. consumer bureau | Reuters Reuters Staff 3 Min Read (This January 31 story corrects date of original court ruling in paragraph two) By Pete Schroeder WASHINGTON (Reuters) - A U.S. appeals court on Wednesday upheld the structure of the U.S. Consumer Financial Protection Bureau, determining it is constitutional to bar the president from firing its director at will, even as the Trump administration works to weaken the regulator. Wednesday’s ruling overturns an October 2016 decision that had given presidents the power of dismissal over a CFPB director and marks the latest development in a complicated fight over leadership of the agency, which was established to crack down on predatory financial practices after the 2007-2009 financial crisis. The ruling from the Court of Appeals for the District of Columbia is part of a broader fight over the agency’s structure, and comes amid a separate, more immediate controversy that emerged after President Donald
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