WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on the filing today of an amicus brief joined by Better Markets and 39 other prominent public interest organizations, in the historically important case of Trump v. Slaughter, No. 25-332, pending in the U.S. Supreme Court:
“The stakes for the public in this case are enormous, as the Court will decide whether Congress has the authority to protect agency leaders from being fired by the president without any legitimate cause and purely for political reasons. Such removal protections are essential to ensure that the agencies charged with safeguarding Americans from rigged financial markets, life-threatening products, and predatory monopolies can do their jobs without fear of political reprisal from the White House or overbearing industry influence. Ninety years ago, the Court upheld removal protections for leaders of the Federal Trade Commission, the agency at issue in this very case, but the Court has explicitly indicated that it is considering overruling that bedrock decision, known as Humphrey’s Executor.
“Our brief demonstrates that removal protections are both essential for protecting the public and entirely within Congress’s constitutional authority. Limiting the president’s power to fire agency heads without any cause related to competence or job performance is necessary to make sure that agency decisions are based on independent expertise and balanced views, not political motives or profit-driven corporate pressures. The brief draws on numerous concrete and sobering examples to show that when this kind of independence is lost, agencies often fail to do what’s best for the public and instead yield to political and industry influence, sometimes with life-and-death results.
“The brief aptly sums up the bottom line: ‘Congress created independent commissions to serve the public interest, not political expediency or corporate profit. Overruling Humphrey’s Executor would dismantle these protections and cause real world harm to everyday Americans, particularly the most vulnerable. The Court should reject this dangerous path and reaffirm the constitutional and practical necessity of agency independence.’”
The brief was organized by the Consumer Federation of America, the UC Berkeley Center for Consumer Law and Economic Justice, the Electronic Privacy Information Center, and Demand Progress, and it was authored by the law firm of Berger Montague PC.
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Better Markets is a non-profit, non-partisan, and independent organization founded to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.
