Today, the Supreme Court will hear a case about whether the Consumer Financial Protection Bureau (CFPB)’s structure as an independent agency with a single director is unconstitutional. Having failed at getting legislation passed, Wall Street, with the aid of the Trump administration, are now turning to the Supreme Court as their newest attempt to neuter the agency, according to an op-ed by Sen. Elizabeth Warren in USA TODAY. In 2007, Warren came up with the idea for the CFPB — a new federal agency dedicated to protecting families from predatory financial products and holding financial firms accountable for cheating consumers. The Supreme Court will decide whether Congress can design agencies in ways that allow for restoring effective, trustworthy government. If the Court instead follows the corporate-friendly ideology, they’ll make it harder for government to defend the people against economic predators — and harder for Congress to build government agencies that aren’t beholden to deep-pocketed interest groups.
