Attorneys general from 17 states filed a motion to defend the constitutionality of the Consumer Financial Protection Bureau. The move is intended to fill the now empty shoes of the Obama administration.
At issue is the independence of the CFPB. Its current structure restricts the president's ability to fire the director, Richard Cordray. A federal appeals court recently ruled those restrictions violated the Constitution. CFPB and the Justice Department petitioned, which could put the case on track to the Supreme Court.
But according to Adam Levitin, a law professor at Georgetown University, "It's not at all clear that in a Trump administration that the attorney general will allow the CFPB to appeal the case to the Supreme Court."
The attorneys general, all Democrats, argue that without an independent CFPB, rules that protect consumers could be gutted. Republicans, however, argue that the CFPB stunts economic growth.
