Trump Pushes for Presidential Power as Top Court Mulls CFPB Fate

Feb. 18, 2020, 9:00 AM

The Consumer Financial Protection Bureau’s independence, designed by a Democratic-controlled Congress to insulate the agency from political pressure, now risks being its downfall.

President Donald Trump’s administration is set to argue to the U.S. Supreme Court on March 3 that the Constitution gives him much broader power to fire the CFPB director than is provided by the 2010 law that created the agency.

The case could mean a fundamental change for the CFPB, created as the brainchild of now-Senator Elizabeth Warren after the 2008 financial crisis to regulate credit cards, auto loans and other consumer finance products. The justices ...

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