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Trump's DOJ ditches defense of CFPB

The Consumer Financial Protection Bureau shouldn't be independent, Trump's DOJ says.

By C. Ryan Barber | Updated on March 29, 2017
The full U.S. Court of Appeals for the D.C. Circuit will decide the constitutionality of the CFPB, an agency Republicans call a rogue. (Photo: Diego M. Radzinschi/ALM)

The U.S. Justice Department argued Friday that the Consumer Financial Protection Bureau should be stripped of its independence, a reversal of an earlier stance that the president only had the power to remove the Obama-era agency’s director for cause, not at will.

Justice Department lawyers told a Washington federal appeals court that the CFPB’s single-director design “lacks those critical structural attributes that have been thought to justify ‘independent’ status for multi-member regulatory commissions.”

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