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The Trump Administration argues that the single-director scheme should be struck down, but that the bureau itself should be left intact to continue its work. Presumably, that would leave the remainder of the entire Dodd-Frank law in place.

That sturdy precedent was the Court’s decision in the case of Humphrey’s Executor v. United States.

In that unanimous ruling, the Justices ruled that President Franklin Roosevelt did not have the power to fire a member of the Federal Trade Commission when Roosevelt’s only reason was that the commissioner was not following the President’s “New Deal” policies. Such officials, the Court declared, could only be dismissed “for cause” – that is, for some significant failing in the performance of their duties.