The U.S. Supreme Court’s June 29, 2020 decision in Seila Law LLC v. Consumer Financial Protection Bureau fixed a glaring constitutional defect in the way Congress structured the Consumer Financial Protection Bureau (CFPB or Bureau). “[D]eviat[ing] from the structure of nearly every other independent administrative agency in our history,” the 111th Congress made the CFPB’s director a solo principal officer whom the president could not remove absent inefficiency, neglect, or malfeasance. The Supreme Court would have none of it. ..
August 27, 2020
Mark Chenoweth and Michael P. DeGrandis
