By a 7-2 vote today, the U.S. Supreme Court rebuffed a challenge to the constitutionality of the Consumer Financial Protection Bureau's funding structure, lifting a cloud that threatened the agency's enforcement and...more
Two coalitions of state attorneys general are urging the Supreme Court to review the constitutionality of the CFPB's funding structure—albeit for vastly different reasons. The two amicus briefs were filed December 14 in...more
The Supreme Court will consider several cases affecting the consumer financial services industry in its upcoming term, which starts October 5. The cases involve substantive issues of liability to consumers, questions relating...more
10/9/2020
/ AMG Capital Management LLC v FTC ,
Arbitration ,
Arbitrators ,
ATDS ,
Collins v Mnuchin ,
Constitutional Challenges ,
Consumer Financial Products ,
Facebook Inc v Duguid ,
False Advertising ,
Federal Arbitration Act ,
Federal Trade Commission (FTC) ,
FHFA ,
Henry Schein Inc v Archer and White Sales Inc ,
Liability ,
Liu v Securities and Exchange Commission ,
Removal For-Cause ,
Restitution ,
SCOTUS ,
Seila Law LLC v Consumer Financial Protection Bureau ,
TCPA
In June, the Supreme Court struck down the leadership structure of the CFPB as unconstitutional. (The case is Seila Law LLC v. CFPB, No. 19-7 (June 29, 2020), and the decision is here.) The case resolves a long-simmering...more
7/30/2020
/ Civil Investigation Demand ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Debt-Relief Industry ,
Director Kraninger ,
Dodd-Frank ,
Ratification ,
Removal At-Will ,
Removal For-Cause ,
Reversal ,
Rulemaking Process ,
SCOTUS ,
Seila Law LLC v Consumer Financial Protection Bureau ,
Separation of Powers ,
Severability Doctrine ,
Single Director