Consumer Financial Protection Bureau Recess Appointments

The Consumer Financial Protection Bureau is a United States federal agency established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Agency is responsible for educating... more +
The Consumer Financial Protection Bureau is a United States federal agency established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Agency is responsible for educating consumers about financial products and services, enforcing federal consumer financial laws and studying trends in consumer financial markets.     less -
News & Analysis as of

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

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

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

Senate Confirms Richard Cordray As CFPB Director

On July 16th, the U.S. Senate voted 66 to 34 to confirm Richard Cordray as CFPB Director, for a five year term....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

Impasse on CFPB Director Resolved

One of the most unsettled issues facing mortgage servicers and lenders has been the uncertainty regarding the host of new regulatory rules regarding loan servicing and origination set to go into effect on January 10, 2014....more

Confirmation of Director Cordray Could Substantially Increase CFPB Enforcement Activity

This week's Senate confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau could have immediate consequences for the CFPB's Enforcement Division and for businesses that have been accused of...more

Agreement Not To Filibuster Nominations For Secretary Of Labor And NLRB Avoids “Nuclear Option” In The Senate, But Poses “Time...

Yesterday, the U.S. Senate avoided the “nuclear option” on pending nominations for Secretary of Labor-Designate Thomas Perez and for a package of nominees to the National Labor Relations Board (NLRB). ...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

New book chronicles creation of CFPB

Since today is the “day after” Richard Cordray’s confirmation as CFPB Director, it is perhaps fitting for me to be writing about a book that provides some history of the CFPB....more

Financial Services Legislative and Regulatory Update -- July 15, 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; International; and Upcoming Hearings. Excerpt from Leading the Past Week - Although there were several hearings and major...more

Senate appears poised to confirm Richard Cordray as Director of the CFPB

I heard from many media sources that a “deal” has been struck in the Senate which will result in Richard Cordray being confirmed by the Senate as Director of the CFPB for a 5-year term....more

Senate votes in favor of cloture for confirmation of Richard Cordray as Director of the CFPB

The Senate voted 71-29 in favor of cloture. That means that the Republicans will not use the threat of the filibuster to block a confirmation vote in the Senate of Richard Cordray’s nomination by President Obama to be...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

SCOTUS To Hear Recess Appointment Case, Potential Implications For CFPB Director

This morning, the U.S. Supreme Court agreed to hear the federal government’s challenge to a January 2013 decision by the Court of Appeals for the D.C. Circuit that appointments to the National Labor Relations Board (NLRB)...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - June 28, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PRIVACY/DATA SECURITY - CRIMINAL ENFORCEMENT -...more

Further thoughts on the Supreme Court’s grant of review in NLRB v. Noel Canning

As we have reported in this blog and in an E-Alert, the Supreme Court on Monday June 24 granted certiorari in the Noel Canning case, in which the D.C. Circuit held that President Obama’s January 4, 2011 recess appointments to...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

U.S. Supreme Court likely to rule on cert petition in NLRB v. Noel Canning at June 20 Conference

We have been following very closely developments in NLRB v. Noel Canning, the case seeking Supreme Court review of the D.C. Circuit Court’s judgment invalidating President Obama’s January 4, 2012 appointment of several NLRB...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

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

71 Results
|
View per page
Page: of 3