Back in October, Brett Kavanaugh, a judge on the U.S. Court of Appeals for the D.C. Circuit, wrote a 101-page majority ruling assailing the "massive, unchecked" power of the single director-led Consumer Financial Protection Bureau.
"Indeed, other than the president, the director of the CFPB is the single most powerful official in the entire United States government, at least when measured in terms of unilateral power," Kavanaugh wrote in PHH v. CFPB, declaring the structure of the Obama-era agency unconstitutional.
The ruling was a blow to the agency, but the sting didn't last long. The full D.C. Circuit, dashing the hopes of other financial-industry companies that wanted to use the ruling to benefit their lawsuits against the agency, agreed to rehear the case as a full court. Oral argument is set for May.
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