Citing the Trump administration's threat to the Consumer Financial Protection Bureau, a coalition of consumer advocacy groups and the top Democrats on the U.S. Senate and House banking committees on Thursday moved to defend the agency and its leadership. U.S. Sen. Sherrod Brown of Ohio and Rep. Maxine Waters of California, moving to intervene in a federal appeals court case, said the Trump administration cannot be counted on to defend the independence of the agency's single-director structure.
January 26, 2017 at 03:38 PM
1 minute read
Many financial companies have pointed to the PHH decision in their push to escape a CFPB investigation or defeat a lawsuit from the agency. In at least one case, a federal judge agreed that the CFPB’s structure was unlawful but declined to dismiss the charges.
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