Consumer Credit Regulation: 2.2.7.2 Constitutionality of Appointment and Limits on Removal of the CFPB Director
The statute creating the Consumer Financial Protection Bureau (CFPB) provides for a single Director appointed by the President of the United States for a term of five years.215 The statute provides that the Director may be removed only for cause for inefficiency, neglect of duty, or malfeasance in office.216 Since 2012, there have been three significant legal challenges concerning the CFPB Director.