A Limited Victory for Limited Government as CFPB’s Structure Ruled Unconstitutional
Reason discusses the federal court ruling that the Consumer Financial Protection Bureau is "structurally unconstitutional" with Hans Bader.
In a lawsuit challenging the authority of the CFPB (a different lawsuit than the one decided by the DC Circuit on Tuesday), attorneys from the Competitive Enterprise Institute made a similar argument.
"The Consumer Financial Protection Bureau's lack of checks and balances violates the Constitution's separation of powers," said Hans Bader, an attorney with CEI in June 2012. "It's director is like a czar. He is not accountable to anyone, and can't be fired even if voters elect a president with different ideas about how to protect consumers."
The director still can't be fired directly by voters, but if Tuesday's decision survives any future appeals, it would mean that the president could supervise, hire and fire the head of the CFBP for any reason.
Read the full article at Reason.