On Jan. 14 the Supreme Court denied the cert petition in State National Bank of Big Spring v. Mnuchin, No. 18-307, which challenged the structure of the Consumer Financial Protection Bureau. At issue was the validity of two key CFPB features—a single director whom the President could remove only for cause, and funding that was independent of congressional appropriations. The bank had been joined in its challenge by the Competitive Enterprise Institute, which coordinated the lawsuit, and the 60 Plus Association. When the case was first filed in 2012, eleven states joined it in a broad challenge to Dodd Frank. After the plaintiffs were dismissed by the district court for lack of standing, the bank’s case was reinstated in a D.C. Circuit decision written by then-circuit judge Kavanaugh—a fact which likely led to his recusal from consideration of the cert petition.
Featuring:
Sam Kazman, General Counsel, Competitive Enterprise Institute


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