On Friday, the Supreme Court agreed to hear a legal challenge to the structure of the Consumer Consumer Protection Bureau (CFPB) in a major victory for critics of the powerful financial regulator.
The court on Friday announced that the trial of Seila Law Vs. CFPB. The case involves law firm Seila Law, which refused to comply with CFPB's request for documents. The firm challenges the agency's structure as unconstitutional, arguing that the bureau director enjoys an unlawful amount of independence from the president's executive branch.
The Trump administration and CFPB Director Katie Kraninger supported a challenge that could transform or even dismantle.
House Democrats urge the Supreme Court to dismiss the appeal of Seil's ruling to rule, urging Congress not to violate the separation of powers.
The CFPB was created with the Dodd-Frank Wall Street reform in 201
The law of Sayla and the Trump administration argue that the "cause" provision impedes the president's constitutional power over the executive.
The district court ruled in favor of the CFPB and the Ninth Court of Appeal upheld that decision, which brought Seila's Law to appeal to the Supreme Court.
The Seila case is the first of several unsuccessful legal challenges to the CFPB to reach the Supreme Court, including cases pending appeals in the fifth and second chains.
The United States Court of Appeals for the District of Columbia ruled in 2016 that the structure of the supervisory agency in question was unconstitutional. But that decision, authored by Supreme Court Justice Brett Cavanaugh Brett Michael CavanaughFirst-Gen First Senate Campaign Against Booker Susan Collins, Raises .1 Million in Third Quarter Susan Collins's performance MORE was overturned by the full court in 2018.
The CFPB's Liberal allies say that the ascension of Cavanaugh and associates of conservative 19 ] Neil Gorshuk Neil Gore noisy. The Difficult Issues of Human Sexuality Demand Dialogue, Not Contempt, Misinformation The Supreme Court Can Prove Its Independence – Or Its Guerrilla Takeover Harris Says Trump Must Wait for Supreme Court Justice MORE existential threats to the existence of the Bureau. CFPB allies fear the court may unconstitutionally rule the entire agency and close it.
But the order of the trial court constitutes a potential salvation for the CFPB. The court asked the CFPB's defenders and Seila's law to argue whether the "cause" provision could be overturned by Dodd-Frank in order to remove the president's unconstitutional check on power.
The CFPB has been the focus of a guerrilla party battle since its incorporation in Dodd-Frank. The agency was created by Senator Elizabeth Warren Elizabeth Ann Warren Warren warns that Facebook can help elect Trump "and benefit from it" Martin Luther King Jr.'s daughter fucks Zuberbur Zubber of his father while defending Facebook Overnight Health Care – Submitted by National Taxpayers Union – House Dems Advance Drug Pricing Bill | Cases of pulmonary vaping related illness, close to 1500 | Juul Stops Sales of Most E-Cigarette Fragrances MORE (D-Mass.), Then Obama's advisor, to be a vigorous independent review of banks, lenders, credit card companies and debt collectors.
CFPB Aggressive Supervision and Regulation Under Former Director Richard Cordray Richard Adams CordrayFor Money: Tax, Trump Property Loan Documents Reported To Show Inconsistencies | Tensions erupt as the Dems hammer on Trump's consumer chief Critics are lashing out when Facebook's cryptocurrency project stiffens as Democrats urge the consumer bureau to increase penalties. Democrats fear Ohio will slip further in 2020. MORE (D) elevates Democrats and critics of the financial sector while infuriating the industry and its GOP allies.
Since then, the bureau has loosened its involvement in the industry with Trump officials appointed and has said it will not defend its structure in Supreme Court arguments. It is unclear whether the House Democrat or CFPB private sector allies will defend the bureau in court.
Updated at 3:45 PM