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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
U.S. Appeals Court to Reconsider Challenge to Consumer Bureau
A U.S. appeals court said on Thursday it will reconsider an October ruling that the Consumer Financial Protection Bureau's structure is unconstitutional, virtually guaranteeing the battle over an agency borne of the financial crisis will reach the Supreme Court.
A full panel of 10 judges on the U.S. Court of Appeals for the District of Columbia Circuit, will decide the case after hearing oral arguments on 5/24/17.
A 3-judge panel had ruled in October that the CFPB vests too much power in its sole director, and said the president should be able to fire the director at will, but stayed the decision pending appeal. That decision has now been wiped off the books.
The court's order indicated that the court's chief judge, Merrick Garland, will not participate. That means that there would be six judges appointed by Democratic presidents and four appointed by Republicans deciding the case.
An agency to protect individuals from predatory and discriminatory lending was the idea of liberal Democratic Senator Elizabeth Warren of Massachusetts. Its creation is considered one of the top domestic policy achievements of former President Barack Obama, also a Democrat.
The Republican chairman of the House of Representatives Financial Services Committee is floating the idea of granting the president the freedom to fire the CFPB's director for any reason through legislation.