D.C. Circuit Court Slated to Hear Oral Argument in CFPB Structure Case Today
5/24/2017 6:00 AM
ACA International filed an amicus brief in the PHH Corp. case arguing against a single-director leadership structure for the bureau.
Today, the full U.S. Court of Appeals for the D.C. Circuit will hear oral argument in PHH Corp. et. al. v. Consumer Financial Protection Bureau, a case that could impact the structure of the CFPB.
Last fall, a three-judge panel of the court ruled that the CFPB’s director can be fired by the president without “cause,” but the full court vacated that decision and decided to rehear the case. PHH Corporation, fined by the CFPB, is arguing both that the bureau itself is unconstitutional and should be abolished (which the original panel ruling did not find) and that its monetary penalty should be dismissed.
On March 10, ACA International filed an amicus (friend of the court) brief in the PHH Corp. case to share with the appellate court its unique and direct perspective on why it believes the bureau’s powers must be reined in within constitutional bounds to ensure accountability and transparency. In its brief, ACA argued that “[t]he Bureau’s structure and function —wielding power over a broad swath of Americans’ lives, concentrating power in the hands of a single Director, insulated from democratic accountability—is ripe for the arbitrary and unrestrained exercise of power in disregard for due process, and for the constitutional rights of the objects upon whom that power is exercised.”
ACA will continue to follow the PHH Corp. case and will keep its members posted on any additional new developments.
If you missed any of the articles previously published in ACA Daily that provided more detailed information about Industry Advancement Program supported cases, like the PHH Corp. case, you can always see the archived articles on the Industry Advancement Program website. Watch for updates when decisions are issued in these cases and learn more about new cases supported by the Industry Advancement Program in the future by reading ACA Daily and logging onto the Industry Advancement Program website throughout the year.
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