D.C. Circuit Delivers First Blow to CFPB, Trump Win Delivers Second -
The future of the Consumer Financial Protection Bureau (CFPB) is up for grabs following a landmark Court of Appeals Decision, PHH Corporation v. Consumer Financial Protection Bureau , and an election which has been widely referred to as a repudiation of the Obama administration's economic policies.
On October 11, 2016, the U.S. Court of Appeals for the District of Columbia Circuit issued a 2-1 opinion which, while declining to dismantle the CFPB, may have taken much of the wind out of its sails. In its blistering decision, the Court held that the CFPB is "unconstitutionally structured" and poses a "significant threat to individual liberty and to the constitutional system of separation of powers and checks and balances."
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