Banking Sector, Regulatory Oversight, Constitutional Challenges

NCUA board members challenge unprecedented removal by President Trump

Orrick, Herrington & Sutcliffe LLP on 5/5/2025

On April 28, a complaint was filed in the U.S. District Court for the District of Columbia, challenging the removal of two Senate-confirmed members of the NCUA Board by President Trump. The plaintiffs allege that their...more

Court Rules That Consumer Financial Protection Bureau Is Unconstitutional

Perkins Coie on 6/29/2018

Summary of SDNY order holding that CFPB is unconstitutional - CFPB v. RD Legal Funding, LLC, 17-cv-890 (June 21, 2018, S.D.N.Y.) - Last week, a federal court in New York ruled that the entire Consumer Financial...more

Senate Banking Committee Probes Mulvaney’s Leadership at the CFPB

Ballard Spahr LLP on 4/13/2018

On April 12, 2018, Mick Mulvaney, the Acting Director of the Consumer Financial Protection Bureau (Bureau) testified before the Senate Committee on Banking, Housing, and Urban Affairs regarding the Bureau’s Semi-Annual Report...more

Will the New Year Bring a New CFPB? Planning in the Wake of Uncertainty

Stinson LLP on 12/27/2017

The Consumer Financial Protection Bureau (CFPB) was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in July 2010 in the wake of a financial crisis, as an independent agency tasked with...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 4/27/2017

Wells Fargo’s Board Chair, Stephen Sanger, did survive his reelection vote the other day. Barely. But Breakingviews thinks he should think awfully hard about his future as a Director at the bank....more

Democratic leadership plans to oppose change in CFPB structure

Ballard Spahr LLP on 1/19/2017

As Inauguration Day approaches, the rhetoric about the CFPB’s future continues to heat up. American Banker reported that, on a conference call with reporters earlier this week, Senate Minority Leader Charles Schumer stated...more