Senate Democratic Leader Chuck Schumer (D-N.Y.) delivered astern message to President-elect Donald Trump today—“Do not tellRichard Cordray he's fired.”

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Schumer joined Sen. Sherrod Brown (D-Ohio) and Elizabeth Warren(D-Mass.) on a conference call with reporters to defend theembattled CFPB director.

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Several Republicans have called on Cordray's removal as Trump takes office.

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And last week, Trump met with former Rep. Randy Neugebauer(R-Texas), who reportedly is under consideration as a possibleCordray replacement.

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Schumer said Neugebauer, a longtime critic of the CFPB, wouldnot be acceptable as a replacement. He contended that as chairmanof the House Financial Institutions subcommittee, Neugebauer was adefender of the payday loan industry.

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“That's like putting the biggest arsonist in the firehouse,” hesaid.

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Warren said the CFPB is working on rules governing arbitrationagreements, payday loans and debt collection. She accusedbusinesses involved with those activities of actively lobbying forCordray's removal.

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The senators said that converting the agency into a five-membercommission would not be acceptable to Democrats.

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Two Republican Sens.—Ben Hasse of Nebraska and Mike Lee ofUtah—have called on Trump to fire Cordray. However, SenateBanking Chairman Mike Crapo (R-Id.) declined to support thateffort, simply saying that Cordray should quit so Trump can appointhis own director.

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To make matters even more uncertain, Trump's ability to simplyfire Cordray is hung up in federal court.

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Currently, Cordray may only be fired for cause, Warren said,adding that no federal agency head has been removed for cause formore than a century.

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A panel of the U.S. Circuit Court of Appeals for the District ofColumbia ruled that the structure of the agency is unconstitutionalsince it is governed by a single director who can only be removedfor cause. The panel said that the president has the power to firethe director for any reason, but has stayed its order.

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The ruling came in a case in which PHH, a mortgage lender, wasthe subject of $109 million penalty from the CFPB. A panel ofappellate court judges voided that penalty and sent the case backto a lower court for review.

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The CFPB and the Obama Administration have asked that the fullD.C. Circuit Court of Appeals consider the case.

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And last week, the appellate court gave PHH until Jan. 27 tofile a supplemental brief—effectively ensuring that there will notbe a ruling before Trump takes office.

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Brown said that Trump voters supported the President-electbecause they believe the financial system is unfair.

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“The people who voted for Trump believe the system was rigged,”he said, adding that Trump should support Cordray who, he added,has been fighting that system.

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