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Republican Committee Leaders Question CFPB On Recess Appointment Activities

On July 29, House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Senate Banking Committee Ranking Member Mike Crapo (R-ID) sent a letter to CFPB Director Richard Cordray questioning the CFPB’s authority to...more

Letter from leading Republicans to Director Cordray questions pre-confirmation actions

Following up on his earlier statement about the impact of the Supreme Court’s decision in NLRB v. Noel Canning on Richard Cordray’s actions taken prior to his July 16, 2013 confirmation by the Senate as CFPB Director,...more

As Maine Goes, So Goes The Nation?

On January 9, 2014, Maine’s governor Paul LePage signed a bill into law that would require labeling for foods made with genetically modified organisms (GMO). Eighteen months from the effective date of the bill, any...more

D.C. federal court dismisses Morgan Drexen lawsuit against CFPB

A Washington, D.C. federal district court has dismissed the lawsuit filed by Morgan Drexen against the CFPB that alleged the Bureau’s structure was unconstitutional because it violated the Constitution’s separation of powers....more

Opening the Flood Gates? California Voters May Create Presumption of Harm in Privacy Breach Cases

California has moved one step closer towards amending its Constitution to create a presumption of harm whenever personal data is shared without a consumer’s express opt-in, a change that would clear a significant hurdle to...more

Appeals Court Rules TCPA Does Not Violate First Amendment

The U.S. Court of Appeals for the Fourth Circuit recently ruled that the Telephone Consumer Protection Act (TCPA) does not violate the First Amendment by requiring robocallers to identify themselves when making calls....more

CFPB’s Cordray Ratifies Recess Appointment Actions

The head of the CFPB, Richard Cordray, was initially appointed by a recess appointment which has generated speculation as to its validity and resulted in certain court actions. Mr. Cordray’s appointment was subsequently...more

CFPB Seeks To Ratify Director’s Pre-Confirmation Actions

Earlier today, the CFPB published a “Notice of Ratification” in the Federal Register in response to concerns about the legal validity of its actions during the period that Director Richard Cordray served as recess appointee. ...more

Financial Services Policy Forum: Dodd-Frank's Implementation and the Future of GSEs

On Dodd-Frank's third anniversary, it is appropriate to ask if it has all been worth it. Well, I guess it depends on who you ask. If you ask Dodd or Frank, the answer would be yes. If you ask all of the newly hired...more

D.C. federal court grants CFPB’s motion to dismiss in State National Bank of Big Spring

Yesterday, the CFPB’s motion to dismiss was granted in State National Bank of Big Spring, Texas, et al. v. Lew, et al., the case filed in federal district court in Washington, D.C. that included a challenge to President...more

Court set to rule on CFPB’s motion to dismiss in State National Bank of Big Spring

It looks like the court is finally set to rule on the CFPB’s motion to dismiss in State National Bank of Big Spring, Texas, et al. v. Lew, et al., the case still pending in federal district court in Washington, D.C. that...more

New lawsuit challenging CFPB’s constitutionality filed

Constitutional challenges to the CFPB’s authority have not ended with Director Cordray’s confirmation last week as CFPB Director....more

California Court Denies Defendant's Challenge to CFPB Enforcement Authority

A California district court judge has denied a defendant's challenge to the authority of the Consumer Financial Protection Bureau to bring a civil enforcement action against the defendant in federal court. Judge Percy...more

Senate Confirms CFPB Chairman — Scrutiny of Lenders' Business Practices Go Under the Microscope

Those that anticipated a dramatic Supreme Court confrontation over the legitimacy of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB), and perhaps a nullification of all of the nascent agency's...more

Supreme Court Will Resolve Questions About Obama Recess Appointments and CFPB Authority

As anticipated, the United States Supreme Court has granted certiorari in National Labor Relations Board v. Noel Canning, signaling the next chapter in the challenges that have been raised as to the legitimacy of certain...more

Supreme Court agrees to take on recess appointment controversy

On June 24, 2013, the U.S. Supreme Court agreed to review the D.C. Circuit’s decision in Noel Canning v. NLRB invalidating President Obama’s January 4, 2012 appointment of three NLRB members....more

Update on cases challenging Cordray appointment

We have been following two federal court cases that involve challenges to Director Cordray’s appointment. The California case, CFPB v. Chance Edward Gordon, was filed in summer 2012 by the CFPB against an attorney and his law...more

Tribal challenge made to Cordray appointment

According to a Bloomberg report, the Chippewa-Cree tribe in Montana, as grounds for objecting to a Civil Investigative Demand (CID) issued by the CFPB, has challenged the validity of Director Richard Cordray’s recess...more

Update: Third Circuit recess appointment decision ups the ante on certiorari

Last week’s News Flash alerted readers that a second federal appellate court has now invalidated a NLRB recess appointment as incompatible with the meaning of the phrase, “the Recess of the Senate” in the Recess Appointment...more

Second Ruling against NLRB Recess Appointments Raises More Questions for CFPB

A second circuit court ruling invalidating one of President Obama’s recess appointments to the National Labor Relations Board could provide additional ammunition to anyone inclined to challenge the validity of his choice to...more

Further Setback for the CFPB Director’s Authority?

A split panel of the U.S. Court of Appeals for the Third Circuit issued a decision yesterday holding that a “recess” appointment to the National Labor Relations Board (NLRB) was unconstitutional and invalid. NLRB v. New Vista...more

House Committee Refuses To Allow CFPB Director To Appear

On April 22, House Financial Services Committee Chairman Jeb Hensarling (R-TX) sent letters to CFPB Director Richard Cordray and CFPB General Counsel Meredith Fuchs stating that the House Financial Services Committee cannot...more

Congressional Research Service issues two reports on Canning decision

The D.C. Circuit’s January 2013 decision in Noel Canning v. NLRB is the subject of two recently-issued reports by the Congressional Research Service. The decision held that President Obama’s recess appointments of three...more

Congressman questions implications of Canning for CFPB funding

Much attention has been devoted to what the D.C. Circuit’s Canning decision could mean for the CFPB’s rulemaking, supervisory and enforcement authority. Now, a Congressman is questioning the decision’s implications for the...more

No fireworks at Cordray nomination hearing

Not only did the Senate Banking Committee hearing this morning on Richard Cordray’s nomination to be CFPB Director produce no fireworks, there were moments when Committee members seemed to forget he was in the hearing room....more

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