“The Trump administration told the Supreme Court Tuesday that the Consumer Financial Protection Bureau is unconstitutional because Congress limited the president’s power to remove the agency’s director before his or her five-year term expires,” the Wall Street Journal reports.
“Two federal appeals courts have upheld the CFPB’s structure, which is intended to insulate the director from political interference by allowing dismissal only for ‘inefficiency, neglect of duty, or malfeasance in office.’ They relied on a 1935 Supreme Court precedent, known as Humphrey’s Executor, which approved similar protections for members of the Federal Trade Commission, who like the CFPB director are presidential appointees confirmed by the Senate.”
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