The U.S. Supreme Court, jumping into a second separation-of-powers case this term, agreed Friday to decide the constitutionality of the single-director structure of the Consumer Financial Protection Bureau, an agency long criticized by the business community and Republican leaders on Capitol Hill.
The challenge to the independent federal agency created by Congress in the 2010 Dodd-Frank Wall Street reform law was brought by California-based Seila Law, which provides legal services to consumers, including assistance with the resolution of consumer debt. Seila Law is represented by Kannon Shanmugam, a partner at Paul, Weiss, Rifkind, Wharton & Garrison.
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