In a “highly anticipated” ruling from the US Court of Appeals for the DC Circuit, a three-judge panel has found the structure of the Consumer Financial Protection Bureau unconstitutional, holding that the current organization of the consumer watchdog agency gives too much power and autonomy to a sole director. The court also offered an easy constitutional fix: give the President at-will termination authority over the CFPB’s director – NYTimes and WSJ and Law360

Samsung has made the almost unthinkable decision to abandon its flagship Galaxy Note 7 smartphone after a disastrous 2-month period for the company in which its trustworthiness has been questioned due to the phone’s penchant for spontaneously exploding – NYTimes
The move will cost Samsung an estimated $2.3 billion in Q3 and already has rivals—one new one in particular—licking their chops – WSJ

Breakingviews is already questioning Wells Fargo’s apparent coronation for Timothy Sloan, given his historic ties to the fake-accounts scandal – NYTimes

Fed minutes are due out today.  Here’s why markets shouldn’t read between those lines too much – WSJ

NY AG Eric Schneiderman has announced that his office will award $12.6 million in the form of grants to 76 cities, towns, and villages around the state to address so-called “zombie properties”—houses and buildings abandoned and left vacant during foreclosure. The funds come from the state’s February RMBS settlement with Morgan Stanley  – Law360

Can virtual currency fulfill its disrupting mission when its underlying technology is being so widely embraced by central banks? Read on to discover the irony of blockchain’s popularity – NYTimes

Amazon’s making a play for the grocery business with its unveiling of convenience stores and curbside pickup locations – WSJ

I managed to stumble down this Internet K-hole yesterday.  Wow. Even for a competition sponsored by an energy drink, that’s a lot going on for some paper airplanes.  I mean, a whole lot going on – Red Bull