Though it believes the CFPB’s leadership structure is unconstitutional, the Department of Justice in a new reply brief urged the Supreme Court to preserve the bureau for its “critical work.”
Brian Johnson, deputy director at the CFPB, has left the agency for a position at law firm Alston & Bird. His departure brings the tally of political appointees leaving the bureau to four.
The question now facing lenders is how they should respond to the CFPB’s civil investigative demands pending the Supreme Court’s decision in the Seila Law case.
The court-appointed CFPB defender said the petition challenging the bureau’s structure is “remarkably weak.” According to him, there is no basis “to take the grave step of invalidating an act of Congress.”
It will be the 11th issuance of its type by loanDepot.
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