Understanding the Challenge to the Constitutionality of CFPB’s Leadership Structure
The financial services industry has been abuzz since late October when the U.S. Supreme Court announced it would review Seila Law v. Consumer Financial Protection Bureau, a case that challenges the constitutionality of its leadership structure next year. Not only is the Court’s review of the structure the CFPB is monumental, it also marks the first time since the CFPB’s inception that agency leadership and the Department of Justice will not defend the structure of the bureau in litigation. At issue in the Supreme Court is whether the provision of the law allowing the president to remove the agency's director only for cause violates the constitutional separation of powers. If you are scratching your head wondering what this means, join Kari Barber, ACA’s former corporate counsel, along with Jessica Klander, shareholder with Bassford Remele in Minneapolis, for an enlightening discussion in the latest episode of ACA Cast titled, “Legal Review: Understanding the Challenge to the Constitutionality of CFPB’s Leadership Structure.” Support the show (http://www.acainternational.org)