August 9, 2019 / 1:12 PM / 12 days ago

EXPLAINER: Why financial watchdog CRPB's fate is in 5th Circuit's hands

The 5th U.S. Circuit Court of Appeals is set to rule on the constitutionality of the Consumer Financial Protection Bureau, a decision that could create a circuit split and add impetus for a U.S. Supreme Court review of the bureau’s legal status.

Created by the 2010 Dodd-Frank Wall Street Reform Act to protect consumers from abusive financial practices, the CFPB has long faced criticism from Republicans in Congress and others that the single director who leads it has too much unchecked power.

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