On June 29, 2020, the Supreme Court of the United States issued a decision related to the structure, and specifically the Director’s authority, of the Consumer Financial Protection Bureau (CFPB). In their ruling, the courts determined that the current structure - which only allows the single CFPB Director to be removed by the President for “inefficiency, neglect of duty, or malfeasance in office,” - is unconstitutional. Therefore, the ruling has now established that the President can, in fact, remove the CFPB Director at will. That said, the CFPB can continue to operate, but the ruling establishes that the Director must be removable by the President “at will.”
The fully Supreme Court Opinion can be found here.