News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Removal For-Cause

Orrick, Herrington & Sutcliffe LLP

9th Circuit orders district court to reassess $7.9 million civil penalty against payments company

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

Ballard Spahr LLP

Fifth Circuit Rules that the Consumer Financial Protection Bureau is Unconstitutionally Funded: What Does the Decision Mean? A...

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In a decision with enormous potential implications, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit has ruled that the manner in which the CFPB is funded violates the Appropriations Clause of...more

Shipkevich PLLC

Fifth Circuit Court of Appeals Finds CFPB Funding Mechanism Unconstitutional Violation of Appropriations Clause

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On October 19, 2022, three judges in the Fifth Circuit Court of Appeals ruled that the funding mechanism of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. Specifically, the court found CFPB’s receiving...more

Ballard Spahr LLP

A new dark cloud descends: Fifth Circuit panel rules that CFPB funding mechanism is unconstitutional

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With the dark cloud over the CFPB that was the constitutional challenge to the for-cause limit on removal of its Director having mostly lifted, a new and even darker cloud has descended in the form of another constitutional...more

Ballard Spahr LLP

Utah federal court rejects constitutional challenge to CFPB’s funding mechanism

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A Utah federal district court has rejected the attempt of The Center for Excellence in Higher Education (CEHE) to invalidate a civil investigative demand (CID) issued by the CFPB based on a challenge to the constitutionality...more

Ballard Spahr LLP

Settlement discussions to continue in All American Check Cashing

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The magistrate judge assigned to hold a settlement conference in All American Check Cashing has issued an order stating that the matter did not settle at the settlement conference conducted on September 7.  The order also...more

Ballard Spahr LLP

En Banc Fifth Circuit Rules CFPB Enforcement Action Can Proceed Against All American Check Cashing, but Concurring Opinion Creates...

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The en banc U.S. Court of Appeals for the Fifth Circuit has ruled that the CFPB’s enforcement action against All American Check Cashing can proceed despite the unconstitutionality of the CFPB’s...more

Ballard Spahr LLP

RD Legal Funding asks SCOTUS to decide if CFPB can ratify pre-Seila Law actions

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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

Morrison & Foerster LLP - Left Coast Appeals

This Week at The Ninth: Dr. Seuss and Constitutional Cures

As one might expect, the past two weeks in the Ninth Circuit have been relatively quiet (though emergency litigation concerning California’s shelter-in-place order has kept some panels very busy).  But as always, the Court...more

Troutman Pepper

Separation of Powers & Severability: On Remand, the Ninth Circuit Court of Appeals Holds CFPB Director Ratification of Civil...

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On remand from the United States Supreme Court, the United States Court of Appeals for the Ninth Circuit, in Consumer Fin. Prot. Bureau v. Seila Law LLC, reaffirmed a District Court grant of a petition by the Consumer...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

Ballard Spahr LLP

Ninth Circuit hears oral argument in Seila Law on remand from SCOTUS

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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

Ballard Spahr LLP

Second Circuit sends CFPB ratification issue back to district court in RD Legal Funding

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Less than one month after hearing oral argument in RD Legal Funding, the U.S. Court of Appeals for the Second Circuit has issued a summary order affirming the district court’s holding that the Dodd-Frank Act’s...more

Ballard Spahr LLP

Second Circuit hears oral argument in RD Legal Funding

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Last week, the U.S. Court of Appeals for the Second Circuit heard oral argument in RD Legal Funding. The three judge panel consisted of two members of the Second Circuit, Judge Denny Chin and Senior Judge Barrington Parker,...more

Ballard Spahr LLP

Seila Law files supplemental brief with Ninth Circuit

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Last week, Seila Law filed its supplemental brief with the Ninth Circuit. The CFPB filed its supplemental brief last month....more

Ballard Spahr LLP

CFPB files supplemental briefs in Seila Law and All American Check Cashing

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Last week, the CFPB filed its supplemental brief with the Ninth Circuit in Seila Law and its supplemental en banc brief with the Fifth Circuit in All American Check Cashing.  The CFPB argues in both briefs that ratification...more

Ballard Spahr LLP

NY Federal District Court Grants CFPB Petition To Enforce CID Ratified By Director Kraninger

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On August 18, Judge Kenneth M. Karas of the Southern District of New York, granted the CFPB’s petition to enforce a civil investigative demand that it issued to the Law Offices of Crystal Moroney prior to the U.S. Supreme...more

Ballard Spahr LLP

After Seila Law, Will Congress Change the CFPB’s Leadership Structure?

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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

Lathrop GPM

The CFPB’s Future After Seila Law LLC v. Consumer Financial Protection Bureau

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In the wake of the 2008 financial crisis, Congress created the Consumer Financial Protection Bureau, an independent agency dedicated to consumer protection in the financial sector. The CFPB’s jurisdiction includes banks,...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

Bradley Arant Boult Cummings LLP

Small Dollar Rule Stay Requested to Be Lifted in Recent Joint Status Report

With the Supreme Court’s recent decision in Seila Law and Director Kathleen Kraninger’s ratification of the payment provisions of the Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule (the “Small Dollar...more

Ballard Spahr LLP

CFPB files ratification with Fifth Circuit in All American Check Cashing

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This past Friday, the CFPB filed a declaration with the Fifth Circuit in which Director Kraninger stated that she has ratified the Bureau’s enforcement action against All American Check Cashing....more

Ballard Spahr LLP

Update on RD Legal Funding and All American Check Cashing

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With the U.S. Supreme Court having ruled in Seila Law that the CFPB’s leadership structure is unconstitutional, two circuit court cases involving the same constitutional challenge that were “on hold” pending the Supreme...more

Akerman LLP

Impact of Supreme Court's Decision in "Seila Law, LLC v. CFPB"

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On June 29, 2020, the Supreme Court resolved the ongoing dispute regarding the structure of the Consumer Financial Protection Bureau (CFPB) in Seila Law LLC v. Consumer Financial Protection Bureau, 591 U.S. – (2020). In a 5-4...more

Brownstein Hyatt Farber Schreck

High Court’s Seila Law Decision Disappoints

On June 29, 2020, in Seila Law v. Consumer Financial Protection Bureau (CFPB), a divided Supreme Court held that the statute that created the CFPB is unconstitutional because it did not vest enough powers with elected...more

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