CFPB Shields Rules From Challenges After Supreme Court Decision

The Consumer Financial Protection Bureau ratified nearly all of its regulations and other communications, protecting them from legal challenges after the Supreme Court said the agency’s leadership structure was unconstitutional.

CFPB Director Kathleen Kraninger’ ratification Tuesday comes after the Supreme Court’s June 29 decision in Seila Law v. Consumer Financial Protection Bureau.

A 5-4 Supreme Court majority found that the CFPB’s original leadership structure, which gave the bureau’s director for-cause removal protections, was unconstitutional. The Supreme Court severed out that provision in the 2010 Dodd-Frank Act, giving the president the power to fire the CFPB director for any reason.

The ...