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U.S. appeals court upholds independence of consumer watchdog

Source: Renae Merle, Washington Post (Paid Registration)

A U.S. appeals court on Wednesday ruled that the structure of the Consumer Financial Protection Bureau is constitutional and that its director can be fired by the president for cause only.

The CFPB’s supporters say that structure gives the agency needed independence from political and financial pressures. But Republicans complained it has made the CFPB a rogue, unaccountable force.

Read Full Article: U.S. appeals court upholds independence of consumer watchdog