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Federal judge rules that CFPB's structure is unconstitutional
CNN: U.S. District Judge Loretta Preska in Manhattan objected to the CFPB's setup as an independent agency with a single director who can be fired by the president only for cause, not at will.
In January, a federal appeals court in Washington said that structure is legal. Preska said she disagreed.
The immediate effect of the ruling appears to be limited. It means the CFPB can't be party to a lawsuit about a company accused of scamming 9/11 first responders. The New York attorney general, who was also a plaintiff, can move forward with the case.
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