A federal appeals court has ruled in a 2-to-1 decision that a lower court does not have the authority to prevent the Trump administration from implementing plans to significantly reduce the staff of the Consumer Financial Protection Bureau (CFPB).
The ruling permits the administration to move forward with its proposal to cut the CFPB's workforce by nearly 90 percent, a decision that could have substantial implications for the agency's operations and oversight capabilities.
This decision reflects ongoing legal and political disputes surrounding the CFPB and its role in consumer protection within the financial sector.