CFPB structure unconstitutional?

Before you get too excited- or concerned, depending upon your take on the CFPB- the agency was not deemed to be unconstitutional.  However, the U.S. Court of Appeals for the District of Columbia found thatthe structure of the CFPB is inappropriate.

The CFPB is currently led by a single Director, (former Jeopardy champion!) Richard Cordray, a structure which was determined to have an inadequate system of checks and balances.  Rather than remove the CFPB’s powers however, the court has ordered the agency to be restructured so that the Director could be removed by the President, at will.  Currently, the Director can only be removed with cause.

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