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Saturday, December 10, 2022 12:30:04 PM
"To insulate the agency from the whims of future politicians, Congress made two key decisions about its structure.
First, the Dodd-Frank Act authorizes the CFPB’s director to serve five-year terms after appointment by the president and confirmation by the Senate, and – until Seila Law – constrained the president from firing the director except for “inefficiency, neglect of duty, or malfeasance in office.” Second, the act places the agency’s funding in control of the Federal Reserve. Each year, the Fed can grant a budget request by the CFPB’s director of up to 12% of the Fed’s operating reserves. Although the director must comply with an annual audit by the comptroller general and submit regular reports to certain committees in Congress, the act shields the agency from oversight by the House and Senate Appropriations Committees."
https://www.scotusblog.com/2022/11/government-appeals-decision-against-consumer-financial-protection-bureau/
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