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Brennan Linsley / AP

The D.C. Court of Appeals decided today it will hear the Consumer Financial Protection Bureau's appeal en banc in May, per the ABA. Today's ruling vacated the divided three-judge court ruling from October 2016 in PHH Mortgage v. Consumer Financial Protection Bureau that the structure was unconstitutional.

The ruling made it so the president could remove the CFPB director at will: at any time and for any reason, which stripped the bureau of its independence.

Why this matters: Now Trump will be unable to remove CFPB director Richard Cordray before his term is up, allowing him to finish up the rest of his term through 2018. It is possible that Trump could remove the director for cause, but an expert on constitutional law and appellate procedure told Axios this is "unlikely to happen" since "there's not precedent on that."

What to expect: The legal expert also said it would be surprising if there was a decision by the end of the year and to expect a decision either early on next year or mid next year. In the meantime, the CFPB will operate as usual.

One caveat: If Congress amends the Dodd-Frank Act, it could render the case moot.

Go deeper

24 mins ago - Health

India crosses 1 billion COVID vaccinations milestone

A health worker inoculates a COVID-19 vaccine dose to a man wearing face mask of Prime Minister Narendra Modi in Beawar, India, in September. Photo: Sumit Saraswat/Pacific Press/LightRocket via Getty Images

India's Prime Minister Narendra Modi announced Thursday that the country's health workers have now administered more than 1 billion COVID-19 vaccines doses.

Of note: While this is a significant milestone for the country of 1.4 billion, which has been devastated by the coronavirus, only about 30% of the eligible population has been fully vaccinated against the virus, per AP. Roughly 75% has received at least one dose.

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Beauty giant Coty Cosmetics looking to sell its own branded products

Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO

Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.

Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.