Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

Today, according to VOX, the Supreme Court announced that it will hear a lawsuit challenging the leadership structure of the Consumer Financial Protection Bureau (CFPB).

Questions:

  1. According to the article, who championed the establishment of the CFPB?
  2. In general, who leads most federal agencies and who leads most independent agencies by contrast?
  3. How is the leadership of the CFPB different?
  4. How far do you think the Supreme Court will go in potentially eliminating the CFPB?
  5. Explain the protection provided for the PCAOB in 2010 that resulted from the case:  Free Enterprise Fund v. Public Company Accounting Oversight Board.

Source:

Millhiser, I. (2019). The Supreme Court will decide if Trump can fire the CFPB director. The implications are enormous. VOX, Oct. 18 (Retrievable online at https://www.vox.com/policy-and-politics/2019/9/18/20872236/trump-justice-department-supreme-court-cfpb-unitary-executive)