Appeals Court to Reconsider CFPB Ruling

A US Court of Appeals in DC “granted the CFPB’s request to reconsider an October decision that stripped Cordray of his job protection…,” Bloomberg reported on Feb. 16. “The director’s future has been uncertain ever since Trump’s surprise win in November. Republicans have repeatedly called on the president to dismiss him and Trump could still try to find grounds to fire Cordray for cause. Lawmakers are also considering legislation that would change the CFPB’s leadership from a single director to a five-person commission or shift the bureau’s funding source from the Federal Reserve to Congress, enabling them to starve it of money. … Twelve judges will hear the re-argument on May 24, including the trio that initially heard the case in April and Chief Judge Merrick B. Garland who is again participating in cases after stepping back while his Supreme Court nomination was pending.”

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