In a long-awaited decision, the Supreme Court struck down the for-cause protection provided to the director of the Consumer Financial Protection Bureau in the Dodd-Frank Act, saying it is “incompatible with the structure of the Constitution.”
In a 5-4 decision authored by Chief Justice John Roberts, the court declined to strike down the entire Dodd-Frank Act, as Seila Law, LLC, had asked it to do if the court found the structure unconstitutional.
Read on for details and reaction on the long-awaited decision.