Ranger, Ga., October 11, 2016 - Rep. Tom Graves (R-GA-14) today issued the following statement after a three judge panel at the D.C. Circuit Court of Appeals – just below the Supreme Court – ruled that the leadership structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional:

“Today’s decision is a win for consumers and for our constitutional system of checks and balances. As many in Congress, Republicans and Democrats, have been saying for years, every agency deserves congressional scrutiny to protect the public from overzealous actions, including the CFPB.  At a minimum, the CFPB should be led by a multi-member, bipartisan board – not a single, unaccountable director who faces removal only for misconduct. I hope this court decision will spur others to join me in passing reforms that enable stronger congressional oversight of the CFPB as we use the power of the purse. Checks and balances are crucial to our system of government, and the CFPB is no exception.”

Rep. Graves has worked with the Financial Services Appropriations Subcommittee chairman, Ander Crenshaw, and other subcommittee members for several years to bring greater congressional oversight to the CFPB and push for changes to the agency’s unconstitutional leadership structure.

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