Monday, October 21, 2019

SCOTUS taking up CFPB case is not what you may have feared

Anyway, it’s certainly not what I feared, when I first saw the headlines.
Nerves frayed among progressive judiciary watchers on Friday afternoon as the Supreme Court announced plans to take up Seila Law LLC v. Consumer Financial Protection Bureau. This case will decide whether the bureau’s leadership structure, in which a single director can only be removed by the president for “inefficiency, neglect of duty, or malfeasance in office,” is constitutional...
Everyone expects that the Court will follow Kavanaugh’s lead from 2016, and will grant the president the power to fire the CFPB director for any reason. But this could be a very positive step in the current context. It would mean that an Elizabeth Warren or Bernie Sanders (or likely any Democratic) administration wouldn’t be stuck with anti-regulatory director Kathy Kraninger in place until December 2023. - The American Prospect
Concerns that the radical-right brigade on SCOTUS might take this as an opportunity to quash the CFPB, and even Dodd-Frank, entirely, are addressed later in the article.






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