Supreme Court rules consumer regulator structure unconstitutional [View all]
Source: Washington Post
The Supreme Court on Monday said the structure of the Consumer Financial Protection Board violates the Constitution.
Chief Justice John G. Roberts Jr. wrote the majority opinion.
At oral argument, Justice Ruth Bader Ginsburg said the question before the court had an “academic quality” to it. Does it intrude on the president’s constitutional authority to direct the executive branch if he is not free to fire the CFPB’s director?
The bureau was the brainchild of now-Sen. Elizabeth Warren (D-Mass.) when she was still a Harvard University law professor. It was part of the 2010 overhaul brought on by the financial crisis. Congress gave it broad powers to implement and enforce consumer protection laws and insulated it even from lawmakers by giving it its own budgetary powers.
Read more: https://www.msn.com/en-us/money/markets/supreme-court-rules-consumer-regulator-structure-unconstitutional/ar-BB166Qy2?li=BBnbfcN&ocid=DELLDHP
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