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Supreme Court nixes CFPB's single-director structure

The US Supreme Court has ruled that the single-director structure of the Consumer Financial Protection Bureau is unconstitutional because it does not allow the president to remove the director at will. Chief Justice John Roberts wrote that the president generally holds the executive power to "remove the agents who wield executive power in his stead," while Justice Elena Kagan's dissent said the decision eliminates an "independence from political pressure" that the CFPB's "creators thought fundamental to its mission."

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