A federal appellate court announced Thursday that it would review a decision finding that the structure of the Consumer Financial Protection Bureau is unconstitutional, temporarily undoing an earlier decision that said the president is allowed to fire the agency's director at will, the <em>Washington Examiner</em> reported yesterday. The U.S. Court of Appeals for District of Columbia Circuit said that the full court would rehear the case, <em>PHH Corporation, et al v. CFPB</em>, which has major implications for the future of consumer financial regulation under the administration of President Trump. In October, a three-judge panel had ruled that the bureau's single-director set-up was unconstitutional. The bureau's current director, Richard Cordray, is an Obama appointee who has advanced regulations opposed by Republicans. GOP members of Congress have called on Trump to fire and replace Cordray, as Trump could do at will if the previous ruling holds up. Oral hearings before the full court are set for May 24.
