DOJ Shifts Support Against CFPB (NAR)

The Department of Justice (DOJ) has filed an amicus brief defending the holding that the unaccountable single-director structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional in the case of PHH Corp. v. CFPB. In reversal of support, the DOJ adopts the U.S. Court of Appeals for the D.C. Circuit’s three-judge panel finding that the Dodd-Frank Act’s for-cause removal restriction for the CFPB director was unconstitutional. The DOJ compared multi-member regulatory commissions to the single-director structure of the CFPB, arguing that current removal restrictions are “an unwarranted limitation on the President’s executive power.”

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