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November 29, 2016

Will Trump Remove CFPB Director Immediately After Taking Office?

Does President-elect Donald Trump — “who campaigned on the promise to ‘dismantle’ Dodd-Frank, which created the Consumer Financial Protection Bureau — have the power to remove CFPB Director Richard Cordray immediately after taking office?

Some observers say yes, but the National Law Journal examines possible complications that may arise due to the agency’s appeal of a D.C. Circuit ruling that found the CFPB’s structure to be unconstitutional and that the president should be able to fire the agency’s director at will.

“If the Executive Branch determines that the statute restricting the CFPB director’s removal is unconstitutional, the president can remove Mr. Cordray before the D.C. Circuit resolves the appeal and before any judgment becomes final,” writes University of Virginia Law School professor Aditya Bamzai.

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