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At SCOTUS, Business Groups and Lawmakers Cast Doubt on DOJ's Proposed Easy Fix for CFPB
December 17, 2019
Several amicus briefs, including those from the Consumer Bankers Association and the Credit Union National Association, argued that if the Supreme Court decides the CFPB’s structure is unconstitutional, it must strike down all of the Dodd-Frank provisions creating the bureau. Both groups, whose members are regulated by the CFPB, argued, like Seila, that it’s up to Congress to decide how to restructure the CFPB if it’s found to be unconstitutional. In that event, the trade groups said, the Supreme Court should stay its mandate, giving Congress time to redraft the law.