January 31, 2018 / 3:39 PM / in 23 days

D.C. appeals court upholds structure of U.S. consumer bureau

WASHINGTON, Jan 31 (Reuters) - A U.S. appeals court upheld the structure of the U.S. Consumer Financial Protection Bureau Wednesday, determining it is not unconstitutional to bar the president from firing its director at will.

The CFPB had appealed a November 2016 court decision that gave the president the power to fire the agency’s director without proof of serious misconduct. The fight over the agency’s structure is part of an ongoing lawsuit between the agency and a mortgage servicer, PHH Corp. (Reporting by Pete Schroeder Editing by Chizu Nomiyama)

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