The Trump administration has nominated Kathy Kraninger to be the next director of the Consumer Financial Protection Bureau, and Roll Call reports that her confirmation hearing was “as politically contentious as it’s gotten in the last year and a half” on the otherwise “senatorial Senate Banking Committee.” Ignore the political drama. The real story is the fact that the bureau has been making some very positive changes under acting Director Mick Mulvaney, a founding member of the House Freedom Caucus.
The Consumer Financial Protection Bureau, an Obama-era brainchild of liberal Democrats, could be nearing the end of its run as a regulator free from congressional control of its budget.
In a consequential decision, a panel of the Fifth Circuit Court of Appeals has ruled that the US Consumer Financial Protection Bureau ("CFPB") is unconstitutionally funded and that its promulgation.
A federal appeals court on Wednesday dropped a bombshell on the financial services industry, ruling that the CFPB’s funding structure is unconstitutional