CNBC: Consumer protection bureau structure upheld in blow to Trump’s deregulation efforts

CNBC, January 31, 2018: Consumer protection bureau structure upheld in blow to Trump’s deregulation efforts

The structure of the Consumer Financial Protection Bureau is constitutional, an appeals court ruled Wednesday in a blow to President Donald Trump’s efforts to ease regulations on the financial system.

The U.S. Court of Appeals for the District of Columbia Circuit made the ruling in a battle over whether the president could remove the director at will. The court in October had upheld a challenge to the structure but agreed to rehear the case.

The ruling stated that a provision of the Dodd-Frank reforms, passed after the financial crisis of 2008, “shielding the Director of the CFPB from removal without cause is consistent” with Article II of the Constitution. Dodd-Frank states that the director can be removed only for “inefficiency, neglect of duty, or malfeasance in office.”

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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