33
RICHARD
CORDRAY ON
PROTECTING
THE CFPB
In a recent article, inaugural CFPB
Director Richard Cordray defended the
Bureau's position, defending the law
protecting the Director from being fired by
the President without causeāa key complaint
in Seila Law's case.
"Important cases about the structure of
the federal government come along only
from time to time," Cordray said. "When
they do, the politics of these cases can create
strange bedfellows. So it was in this case,
which produced several novelties: the Justice
Department refusing to defend the lawfulness
of an act of Congress, the agency charged
with enforcing consumer-protection laws
siding with a law firm accused of cheating its
customers, and the House of Representatives
but not the Senate being given time to present
its views so the justices could canvass all the
issues more fully."
e issue, Cordray notes, isn't about
what the government can do for consumers,
but instead is a confrontation between
Congress and the president about how much
authority each can exert over the removal of
high-ranking federal officials charged with
administering and enforcing the law.
"It poses difficult questions because
whereas the Constitution clearly and plainly
states that the president has the power to
appoint such officials (often with the advice
and consent of the Senate), it is silent about
who has the power to remove them."
According to Cordray, the court is likely
to "issue a ruling that is fairly limited as a
practical matter," noting "indications that
the Court's decision would embrace the big
picture by allowing the CFPB to continue to
operate and to protect consumers."
Journal