Structure of agency conceived by Warren ruled unconstitutional

The Consumer Financial Protection Bureau — the brainchild of Massachusetts Senator Elizabeth Warren and among the most controversial programs to come out of the financial crisis — is too powerful, a federal appeals court ruled Tuesday.

In the first notable legal challenge to the financial regulator, a three-judge panel of the US Court of Appeals for the District of Columbia Circuit faulted the agency’s structure and found that its director was ...read more.