On the heels of an opinion by the Court of Appeals for the D.C. Circuit holding the Consumer Financial Protection Bureau unconstitutional, the Wall Street Journal recognized BG&A Founding Partner C. Boyden Gray and Of Counsel Adam J. White for their role in articulating the Bureau’s constitutional flaws and bringing them to public attention.
From the Wall Street Journal’s October 11, 2016 editorial, The Unconstitutional Mr. Cordray:
The most powerful un-elected man in Washington finally has a boss. We’re referring to Richard Cordray, who runs the Consumer Financial Protection Bureau (CFPB) and whose job was ruled “unconstitutionally structured” by a federal appeals court on Tuesday. Mr. Cordray will now have to report to President Obama, who can fire him at his pleasure.
This is a triumph for democratic accountability and thus individual liberty as envisioned by America’s founders. Writing for a three-judge panel of the D.C. Circuit Court of Appeals, Judge Brett Kavanaugh noted that under Article II of the Constitution “the President alone is responsible for exercising the executive power.” The President, unlike the many bureaucrats he oversees, must answer to voters.
Kudos to Ted Olson, who argued the case, as well as Boyden Gray and Adam White, who have been diligent in pointing out Dodd-Frank’s constitutional flaws.