News & Analysis as of

Canning v NLRB Consumer Financial Protection Bureau (CFPB) Dodd-Frank Wall Street Reform and Consumer Protection Act

Ballard Spahr LLP

D.C. federal district court rejects recess appointment challenge

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The D.C. federal district court has rejected the plaintiffs’ attempt in State National Bank of Big Spring, Texas, et al. v. Lew, et al. to invalidate the actions taken by Director Cordray while he was a recess appointee. The...more

Ballard Spahr LLP

Ninth Circuit Rejects Director Cordray's Recess Appointment as Defense to CFPB Enforcement Action; Dissenting Judge Disagrees

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Since it was filed in a California federal court in July 2012, we have been following Consumer Financial Protection Bureau (CFPB) v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by...more

Ballard Spahr LLP

Ninth Circuit rejects Director Cordray’s recess appointment as defense to CFPB enforcement action; dissenting judge disagrees

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Since it was filed in a California federal court in July 2012, we have been following CFPB v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by falsely promising loan modifications in...more

Ballard Spahr LLP

Challenge to CFPB’s constitutionality reemerges

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The issue of the CFPB’s constitutionality reemerged last week in court and Congress. On the judicial front, the U.S. Court of Appeals for the D.C. Circuit, in State National Bank of Big Spring, Texas, et al. v. Lew, et al.,...more

Ballard Spahr LLP

Update on cases challenging Cordray appointment

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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

Proskauer - Whistleblowing & Retaliation

Consumer Financial Protection Bureau Remains In Limbo

The authority and leadership of the Consumer Financial Protection Bureau (CFPB), a body created by Dodd-Frank to regulate consumer protection of financial products and services, continues to remain in limbo in the wake of the...more

Troutman Pepper

Will New U.S. Court Of Appeals Decision On ‘Recess Appointments’ Stay Dodd-Frank Powers Granted To CFPB And Vacate Certain...

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Holding that recess appointments authorized by the Recess Appointments Clause of the U.S. Constitution are limited to “intersession recesses” – “the period between sessions of the Senate when the Senate is by definition not...more

Baker Donelson

Will Actions of the CFPB Be Deemed Invalid?

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A recent decision of the United States Court of Appeals for the District of Columbia Circuit has brought into question the validity of actions taken by the Consumer Financial Protection Bureau (CFPB). The case in question,...more

Ballard Spahr LLP

The Senate Republicans officially weigh in on Cordray’s nomination

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Whatever hope President Obama may have had that his nomination of Richard Cordray to serve a five-year term as Director of the CFPB vanished today when 43 Republican Senators joined in a letter to the President saying that...more

Ballard Spahr LLP

Let the political posturing begin!

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Predictably, political posturing in reaction to the D.C. Circuit’s Canning decision has already begun. According to media reports, South Dakota Senator Tim Johnson, a Democrat who heads the Senate Banking Committee, is...more

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