The Supreme Court agreed Friday to hear a case challenging the appointment of administrative law judges, which could affect an appeals court ruling on the constitutionality of the Consumer Financial Protection Bureau.

The Supreme Court case, Lucia v. Securities and Exchange Commission, was cited by the U.S. Court of Appeals for the D.C. Circuit in February when it agreed to consider an appeal by the CFPB on whether the agency's single-director structure is unconstitutional.

The appeals court is expected to rule any day in the closely watched case, PHH v. CFPB. The court could decide to hold off on a ruling while the Supreme Court determines the Lucia case, experts said.

If the Supreme Court concludes that the method of choosing administrative law judges is unlawful, it has the potential to throw out a judgment against PHH.

Read more in American Banker.