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December 5, 2016

Can President-Elect Trump “Fire CFPB Chief on Day One?”

Over the past several weeks Republican lawmakers and some industry executives have called on president-elect Trump to constrain Mr. Cordray and the CFPB, but whether or not Mr. Trump will be able to oust Cordray on his first day as president remains to be seen.

Those who believe Mr. Cordray can’t be fired “cite a continuing court case on the constitutionally of the bureau’s single-director structure. The case is pending at the U.S. Court of Appeals for the District of Columbia,” writes The Wall Street Journal.

Aditya Bamzai, an associate law professor at the University of Virginia, argues that Mr. Trump has the authority to remove Mr. Cordray “regardless of the court case.” “There’s no ‘pending litigation’ exception to the president’s authority,” said Bamzai. 

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