The Supreme Court on Monday struck down a provision of the law that limited the president’s authority to remove the head of the Consumer Finance Protection Bureau (CFPB).
The court held that Congress has gone too far when it created the CFPB and put it under control of a single director who could only be removed by the president for “inefficiency, neglect of duty, or malfeasance in office.” That gave rise to an office exercising executive power too unaccountable to the president, the high court ruled.
The 5-4 decision was a victory for conservative attempts to pare back the administrative state. The bureau was the brainchild of Elizabeth Warren, who first proposed it in 2007 when she was a Harvard law professor, and was erected by the Dodd-Frank Act Congress passed in 2010. President Barack Obama initially considered naming Warren, by then serving as an assistant to the president and adviser