WASHINGTON – The U.S. Court of Appeals in Washington granted the Consumer Financial Protection Bureau’s (CFPB) request to reconsider an October decision that ruled the bureau’s leadership structure is unconstitutional Thursday.
CUNA, and the state leagues, as part of the bipartisan, pro-consumer Campaign for Common-Sense Regulation, support replacing the single director with a five-person commission, and continue to advocate that the current one-size-fits-all regulatory environment isn’t working in the best interests of consumers.
CUNA supported the court’s decision in October, saying the ruling confirmed its concerns that the bureau is flawed, and leadership by an unchecked, independent director does not lead to good public policy.
The campaign was launched at the beginning of this year, and seeks various forms of regulatory relief through legislative and regulatory changes at the CFPB, among other agencies.
in Legislative & Political News