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Appeals Court Orders Restructuring Of Consumer Financial Protection Bureau

A federal appeals court ruled the Consumer Financial Protection Bureau must be restructured because its current setup is unconstitutional. The court said the CFPB's director is not sufficiently answerable to the president. The decision will not force a shutdown of the agency but will require an immediate restructuring.

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Corrected: October 12, 2016 at 12:00 AM EDT
We incorrectly identify the U.S. Court of Appeals for the D.C. Circuit as the D.C. Court of Appeals, which is a different court that covers local matters.