Court Gives President More Power Over Consumer Agency Chief


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Richard Cordray, the director of the Consumer Financial Protection Bureau, in 2014. Tuesday’s ruling said the agency’s structure improperly gave too much power and autonomy to the director.

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Jonathan Ernst/Reuters

In a significant blow to the authority of the Consumer Financial Protection Bureau, a federal appeals court ruled on Tuesday that the agency’s structure was unconstitutional but offered a fairly simple remedy: Give the president the power to fire the agency’s director at will.

The highly anticipated ruling from a three-judge panel of the United States Court of Appeals for the District of Columbia Circuit directly addressed a longstanding criticism of the consumer watchdog agency: that its structure improperly gives too much power and autonomy to a sole…



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