Appeals court rules president cannot dictate leadership at CFPB

The Consumer Financial Protection Bureau regained a measure of independence when a U.S. appeals court said the president’s power to remove the agency’s head is limited to specific reasons such as neglect of duty or malfeasance in office.
The Washington-based appeals court concluded Wednesday that Congress meant to protect the agency from the ebb and flow of politics. Giving the president more latitude to fire the director “would put the historically established independence of