Press Release: Consumers’ Research Lauds SCOTUS Ruling on Unconstitutional Leadership Structure on CFPB

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The ruling brings necessary accountability to the Bureau, but Congress has more work to do

On June 29, 2020, the Supreme Court issued its decision in Seila Law LLC v. Consumer Financial Protection Bureau (CFPB). The Court, in a 5-4 vote, concluded that a single-director leadership structure requires direct accountability to the President.

Beau Brunson, Consumers’ Research’s Director of Policy and Regulatory Affairs, released the following statement on SCOTUS’s ruling:

“Today’s ruling in Seila Law LLC v. Consumer Financial Protection Bureau was a win for consumers because accountability in government matters. Consumers are citizens first, and no government agency should be operating outside the bounds of the constitution. As the court’s decision noted, this should not be the final improvement made to the agency. The opinion highlighted fundamental flaws that desperately need correction by Congress. The CFPB’s funding structure still has no Congressional oversight, and the Director has rule-making authority that goes far beyond any other agency under a single director.  While we are a step closer to a CFPB that works to the benefit of all consumers, it now falls to Congress to bring needed reforms to a poorly structured agency.”

Created by Title X of the Dodd-Frank Act in response to the 2008 Financial Crisis, the CFPB had both a unique funding and leadership structure. While SCOTUS has brought the leadership structure into line with other federal agencies, the CFPB remains funded thought the Federal Reserve rather than Congress.

Washington, D.C.— Feb. 6, 2019Consumers’ Research, founded in 1929, is the nation’s oldest consumer organization that seeks to increase the knowledge and understanding of issues, policies, products, and services of concern to consumers. For more information, visit: and follow Consumers’ Research on Twitter at @ConsumersFirst.

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