Jim Flynn: Consumer agency’s fate lies with Supreme Court
The legal structure of the Consumer Financial Protection Bureau is once again in the news.
The U.S. Supreme Court agreed Oct. 18 to review a decision by the 9th Circuit Court of Appeals upholding the constitutionality of the CFPB. The case began when the CFPB demanded documents from a debt collection law firm and the law firm refused to comply, arguing the CFPB’s structure violated separation of powers provisions in the Constitution. The trial court agreed; the 9th Circuit did not.
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