January 31, 2018
Washington, D.C. – U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement following The U.S. Court of Appeals for the District of Columbia Circuit decision to uphold a provision in the Dodd-Frank law that states the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional and that its director can only be fired by the president for cause.
“Today the DC Circuit affirmed that CFPB’s independence is constitutional. While good news for consumers, the CFPB cannot be fully independent until a lawful Director is in place. This Administration should quickly nominate a Director with bipartisan support and a track record of holding Wall Street accountable.”