D.C. Court of Appeals Upholds Constitutionality of CFPB Single-Director Structure

On January 31st, the D.C. Circuit ruled that the leadership structure for the Consumer Financial Protection Bureau established under the Dodd-Frank Act is consistent with the U.S. Constitution.  That the CFPB is headed by a single individual with a five-year term and can be fired only for cause does not impinge on the President’s executive power under Article II of the Constitution.  Click here to read more.

John Mussman is a leading banking and financial services lawyer. He represents banks, mortgage lenders, and other financial services providers, focusing on banking and commercial and consumer credit law. He also represents bank affiliates and non-bank players in the commercial and consumer credit space. Read more about Mr. Mussman here.