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Federal Appeals Court Rules Consumer Financial Protection Bureau's Power Structure Unconstitutional

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A federal appeals court found that the leadership structure of the Consumer Financial Protection Bureau Director -- a bureau conceived by Sen. Elizabeth Warren -- unconstitutional. Pictured here: Warren listens to testimony  from CFPB Richard Cordray in 2013.(Jacquelyn Martin/AP)
A federal appeals court found that the leadership structure of the Consumer Financial Protection Bureau Director -- a bureau conceived by Sen. Elizabeth Warren -- unconstitutional. Pictured here: Warren listens to testimony from CFPB Richard Cordray in 2013.(Jacquelyn Martin/AP)

A federal appeals court ruled Tuesday that the Consumer Financial Protection Bureau (CFPB) is unconstitutional because of the structure of its leadership.

The ruling says that the CFPB is "an independent agency headed by a single director and not by a multi-member commission," giving that director "more unilateral authority than any other officer in any of the three branches of the US Government, other than the President."

Guest

Patricia McCoy, professor at Boston College Law School which tweets @BCLAW.

This segment aired on October 12, 2016.

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