Washington, D.C. – Today, the U.S. Supreme Court ruled in Seila Law LLC v CFPB that the Consumer Financial Protection Bureau’s (CFPB) leadership structure is unconstitutional. Following this ruling, Congressman Emmer issued the following statement:
“Today’s ruling is a win for the American consumer. For years, the Consumer Financial Protection Bureau’s unconstitutional structure prevented the American people from oversight and transparency. The American people deserve to have agency leadership that is held accountable by those whom they elect.” said Emmer. “I am glad to see the Supreme Court agree with what House Republicans have been pointing out ever since Dodd-Frank was passed. I was proud to support the amicus brief that argued for the decision we have today.”
House Republican Leadership led an amicus brief to the Supreme Court prior to its consideration of the constitutionality of the CFPB. The creation of the CFPB by the Dodd-Frank Act resulted in an un-elected agency head that could not be removed by the nation’s elected President. The Supreme Court today concluded that the CFPB violated the separation of powers.
Read the amicus brief here.