This Other Big CFPB Case Tests the Scope of Agency's Investigative Power

The Consumer Financial Protection Bureau isn't exactly riding high right now. A federal appeals court struck down the constitutionality of the agency's single-director structure. Republicans in Congress want to fundamentally revamp the agency. And the incoming Trump administration isn't expected to openly greet Richard Cordray, the CFPB director. Here's one more headache: a Washington appeals court will in the coming months decide just how far the agency's investigative power reaches.

Noting that connection between accreditation and financial aid, the CFPB charges in its D.C. Circuit papers that the trial judge, Richard Leon, “failed to recognize the possible connection between lending by for-profit colleges and accreditation.”

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