3 ms·
They're fighting back. The structure of the CFPB (Consumer Financial Protection Bureau, which fined Wells Fargo for this) was declared unconstitutional yesterd
by greeneggs 10y ago
They're fighting back. The structure of the CFPB (Consumer Financial Protection Bureau, which fined Wells Fargo for this) was declared unconstitutional yesterday [1].
[1] http://www.wsj.com/articles/federal-appeals-court-finds-structure-of-cfpb-unconstitutional-1476197389 http://www.wsj.com/articles/federal-appeals-court-finds-stru...
- ellius 10y agoOnly in a relatively minor way though. The ruling states the President can remove the head at will, rather than requiring cause. American Banker actually had an editorial about this being bad for banks--it decreases the predictability of the agency. It does make it easier for a compromised President to favor a bank-friendly director though. They only need one to gut it now.