While Mr. Trump also supports dismantling the law, Republicans would probably be unable to accomplish a sweeping repeal of Dodd-Frank without the support of some Democrats. But advisers to Mr. Trump have signaled that the administration is prepared to gut the agency. While Mr. Trump is fond of bellowing, “You’re fired,” sacking Mr. Cordray could be complicated. A three-judge panel of the United States Court of Appeals for the District of Columbia Circuit ruled last October that the president should have the authority to dismiss the consumer bureau’s director at will. If the full Court of Appeals agrees with that decision, Mr. Cordray could be fired immediately.

Source: New York Times February 10, 2017 01:30 UTC