Fifth Circuit Rules that the Consumer Financial Protection Bureau is Unconstitutionally Funded: What Does the Decision Mean? A Deep Dive with Special Guest Isaac Boltansky, BTIG
Earlier this month, the United States Court of Appeals for the D.C. Circuit ruled President Trump’s removal of Democrat commissioners from the Federal Trade Commission (FTC) was unlawful. In a 2-1 decision, the panel held...more
Chief Justice John Roberts has issued a temporary stay allowing President Trump to fire recently reinstated FTC Commissioner Rebecca Slaughter, even though she was fired without cause....more
A divided federal appeals court has ruled that President Trump illegally fired Democratic FTC member Rebecca Slaughter and has ordered that she be reinstated to her position....more
Yesterday, the D.C. Circuit issued the latest decision in the saga over President Trump’s firing of the Democratic Federal Trade Commission (FTC) Commissioners. That decision sets the stage for a likely emergency application...more
The U.S. Court of Appeals for the Fifth Circuit ("Fifth Circuit") has ruled that the National Labor Relations Board ("NLRB") is unconstitutionally structured and cannot hear unfair labor practice charges. The decision focused...more
Following two months of legal chaos, the U.S. Consumer Product Safety Commission (CPSC) appears to be charting a new course for consumer protection policy. On August 20, 2025, Acting Chairman Peter A. Feldman of CPSC issued a...more
On August 19, 2025, the Fifth Circuit Court of Appeals sided with Elon Musk’s SpaceX and two other companies by barring the NLRB from prosecuting unfair labor practice cases on the grounds that the Board’s structure likely...more
In a major setback for the National Labor Relations Board (NLRB), the Fifth Circuit Court of Appeals recently upheld an injunction, preventing the NLRB from holding an unfair labor practice (ULP) hearing against SpaceX and...more
On August 19, 2025, the U.S. Court of Appeals for the Fifth Circuit affirmed preliminary injunctions halting National Labor Relations Board (“NLRB” or the “NLRB”) proceedings against SpaceX and two other companies while they...more
In a significant decision with broad implications for the structure and independence of federal regulatory agencies, the U.S. Supreme Court on July 23, 2025, granted President Trump’s request to remove three Democratic...more
Two reinstated National Credit Union Administration (NCUA) board members participated in a board meeting on July 24, even as the Supreme Court signaled that three Democratic members of the Consumer Product Safety Commission...more
A federal judge has ruled that the President Trump violated federal law when he fired Rebecca Slaughter, a Democrat, as a member of the FTC....more
The Supreme Court last week granted the stay requested by the Government enjoining the enforcement of the U.S. District Court for the District of Columbia’s orders involving President Trump’s firing of members of the National...more
The two Democratic FTC members who were fired by President Trump have filed suit in federal court challenging their dismissal....more
On March 7, the Community Financial Services Association of America (CFSA) and the Consumer Service Alliance of Texas filed a petition for a writ of certiorari with the U.S. Supreme Court seeking to overturn a decision by the...more
On September 6, 2023, Democratic member Gwynne Wilcox was appointed to the NLRB by former President Joe Biden. Her five-year term was scheduled to end in 2028. ...more
This PubCo post highlighted a petition for cert. filed this term to review the Fifth Circuit decision, Consumers’ Research v. Consumer Product Safety Commission. Below is a brief update on the outcome. The expectation was...more
On July 18, 2024, the New Civil Liberties Alliance (NCLA), a nonprofit civil-rights organization, filed an amicus curiae brief, encouraging the Supreme Court to grant certiorari to Consumers’ Research v. Consumer Product...more
On June 30, 2023, the Supreme Court granted certiorari in Securities and Exchange Commission v. Jarkesy to review a decision by the Fifth Circuit rejecting key aspects of the Securities and Exchange Commission’s (SEC or the...more
On January 27, the U.S. Court of Appeals for the Ninth Circuit ordered a district court to reassess its decision “under the changed legal landscape since its initial order and opinion” in an action concerning alleged...more
In 1984, the Supreme Court ruled unanimously that courts must defer to an administrative agency’s reasonable interpretation of an ambiguous statute. But last year, the Supreme Court stripped the FTC of its ability to seek...more
RD Legal Funding has filed a petition for a writ of certiorari in the U.S. Supreme Court that asks the Court to decide whether the CFPB can ratify actions taken when it was unconstitutionally structured....more
Last Thursday, on remand from the U.S. Supreme Court, the U.S. Court of Appeals for the Ninth Circuit heard oral argument in Seila Law. The members of the three judge panel were Judge Susan Graber and Judge Paul Watford...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
In the wake of the U.S. Supreme Court’s June 29, 2020 decision in Seila Law LLC v. Consumer Financial Protection Bureau, which held that the CFPB’s leadership structure violates the separation of powers mandated by the U.S....more