Eight months after arguing the Consumer Financial Protection Bureau’s (CFPB) structure is constitutional, the Department of Justice (DOJ) has reversed its stance in a case brought by a law firm appealing a civil investigative demand (CID) request.
The fact that CFPB Director Kathy Kraninger agrees with the DOJ’s new position could prompt the Supreme Court to take up the case and decide once and for all whether the bureau – and every regulation enacted by it – is unlawful.
Read on for highlights of the DOJ’s latest brief and Kraninger’s letter to House Majority Leader Mitch McConnell.
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