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Constitutional Challenges › Separation of Powers › Civil Investigation Demand

Hudson Cook, LLP

State Watch: Consumer Protection Enforcement Update - May the Force of Law Be with You

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Attorney General James sued a national bank and its holding company for the bank's alleged practices relating to its offering of online savings accounts. Specifically, the AG claims that the bank offered a "high interest"...more

Cadwalader, Wickersham & Taft LLP

Second Circuit Rules CFPB Funding Mechanism Is Constitutional, Deepening Split with Fifth Circuit

Cadwalader, Wickersham & Taft LLP on

On March 23, the U.S. Court of Appeals for the Second Circuit ruled that the CFPB’s funding mechanism is constitutional. The case, CFPB v. Law Offices of Crystal Moroney, is significant for two reasons. First, the Second...more

Goodwin

Ninth Circuit Stays Mandate in Seila Law Pending Resolution of Petition to Supreme Court

Goodwin on

On June 1, 2021, the Ninth Circuit, in CFPB v. Seila Law LLC, No. 17-56324, granted Seila Law LLC’s motion to stay the mandate requiring its compliance with a civil investigative demand, while it petitions the U.S. Supreme...more

Ballard Spahr LLP

Ninth Circuit rules CID issued to Seila Law was validly ratified by Director Kraninger

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Less than six weeks after hearing oral argument, a unanimous panel of the U.S. Court of Appeals for the Ninth Circuit ruled that the CID issued to Seila Law was validly ratified by Director Kraninger and affirmed the district...more

Hudson Cook, LLP

Supreme Court’s Seila Law Decision Brings Clarity to the CFPB (for Now)

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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

Hinshaw & Culbertson - Consumer Crossroads

SCOTUS Holds CFPB’s Single Director Structure Unconstitutional, Leaves Open Questions on Existing Bureau Matters

Hinshaw & Culbertson - Consumer Crossroads on

Earlier today, the United States Supreme Court issued a two part decision in Seila Law LLC v. Consumer Financial Protection Bureau. The Court first decided, in a 5-4 decision with Chief Justice Roberts authoring the Court's...more

Ballard Spahr LLP

Director Kraninger rejects constitutionality challenge as basis for setting aside CID

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CFPB Director Kraninger has rejected the argument made by Equitable Acceptance Corp (EAC) that because the Bureau’s structure is unconstitutional, the civil investigative demand it received from the Bureau should be set aside...more

Ballard Spahr LLP

Seila Law and CFPB file briefs in U.S. Supreme Court

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Seila Law and the CFPB filed their briefs yesterday in the U.S. Supreme Court.  Both briefs address the question presented in Seila Law’s certiorari petition, which is whether the CFPB’s...more

Burr & Forman

Supreme Court to Decide Whether Structure of the Consumer Finance Protection Bureau is Constitutional

Burr & Forman on

On October 18, 2019, the Supreme Court granted the petition for a writ of certiorari filed in Seila Law LLC v. Consumer Financial Protection Bureau. In granting the petition, the Court agreed to take up two distinct issues....more

Ballard Spahr LLP

U.S. Supreme Court to decide CFPB’s constitutionality

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This past Friday, the U.S. Supreme Court announced that it has agreed to decide whether the CFPB’s single-director-removable-only-for-cause structure is constitutional.  The Court granted Seila Law’s petition for a writ of...more

Ballard Spahr LLP

Seila Law to seek U.S. Supreme Court review of Ninth Circuit ruling that CFPB’s structure is constitutional

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Appellant Seila Law has filed a motion for a stay of the Ninth Circuit’s mandate in its decision ruling that the CFPB’s single-director-removable-only-for-cause structure is constitutional pending the filing by Seila Law of a...more

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