The Consumer Financial Protection Bureau isn’t exactly riding high right now.
A federal appeals court in October struck down the constitutionality of the agency’s single-director structure, saying the bureau’s sole leadership held “massive, unchecked power.” Republicans in Congress want to fundamentally revamp and refocus the Obama-era agency, creating a bipartisan commission. And the incoming Trump administration isn’t expected to openly greet Richard Cordray, the CFPB director, whose term expires in 2018 but could be cut short much sooner.
