Supreme Court agrees to hear challenge to consumer agency

The Supreme Court on Friday agreed to hear a legal challenge to the structure of the Consumer Financial Protection Bureau (CFPB) in a major victory for critics of the powerful financial regulator.

The court on Friday announced it would take up the lawsuit Seila Law vs. CFPB. The case involves a law firm, Seila Law, that refused to comply with a CFPB request for documents.

The firm challenged the agency’s structure as unconstitutional, arguing that the bureau’s director enjoys an illegal amount of independence from the president’s executive branch authority.

View the complete October 18 article by Sylvan Lane and Harper Neidig on The Hill website here.