News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Consumer Financial Protection Bureau (CFPB) Federal Vacancies Reform Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Seyfarth Shaw LLP

D.C. Circuit Questions English’s Standing To Challenge CFPB Control

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The battle for control of the Consumer Financial Protection Bureau (“CFPB”) raged on last Thursday during oral argument before the United States Court of Appeals for the District of Columbia Circuit in English v. Trump....more

Ballard Spahr LLP

Senate Banking Committee Probes Mulvaney’s Leadership at the CFPB

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On April 12, 2018, Mick Mulvaney, the Acting Director of the Consumer Financial Protection Bureau (Bureau) testified before the Senate Committee on Banking, Housing, and Urban Affairs regarding the Bureau’s Semi-Annual Report...more

Ballard Spahr LLP

D.C. Circuit panel questions Mulvaney’s dual CFPB/OMB roles in English appeal oral argument

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On April 12, 2018, the United States Court of Appeals for the District of Columbia Circuit held oral argument on the appeal brought by Leandra English, CFPB Deputy Director, of the district court’s denial of her application...more

Ballard Spahr LLP

Three amicus briefs in support of President Trump and Mick Mulvaney filed in English appeal

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Three amicus briefs have been filed in the U.S. Court of Appeals for the D.C. Circuit in support of President Trump and Mick Mulvaney, who are asking the D.C. Circuit to affirm the district court’s decision denying Leandra...more

Ballard Spahr LLP

English files reply brief in preliminary injunction appeal

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Leandra English has filed her reply brief in her appeal of the district court’s denial of her preliminary injunction motion in her action seeking a declaration that she, rather than Mick Mulvaney, is the lawful CFPB Acting...more

Ballard Spahr LLP

Five amicus briefs filed in support of English appeal

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Five amicus briefs have been filed in the U.S. Court of Appeals for the D.C. Circuit in support of Leandra English. Ms. English has appealed the district court’s denial of her preliminary injunction motion in her action...more

Ballard Spahr LLP

District court stays proceedings pending outcome of English preliminary injunction appeal; English files opening appeal brief

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On January 30, 2018, the federal district court hearing Leandra English’s action seeking a declaration that she is the lawful Acting CFPB Director granted the parties joint motion to stay further proceedings pending a...more

Seyfarth Shaw LLP

D.C. Circuit To Hear Appeal In Fight To Control CFPB

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Seyfarth Synopsis: A federal judge on Wednesday denied a request to remove Mick Mulvaney as the CFPB’s acting director, finding that the President has authority to appoint the acting director despite former CFPB Director...more

Ballard Spahr LLP

Court Denies English’s Preliminary Injunction Motion; Mulvaney Continues to Exercise Acting CFPB Director Authority

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Wednesday, U.S. District Court Judge Timothy J. Kelly denied Leandra English’s motion for a preliminary injunction in a 46-page opinion. English had sought to block President Trump’s appointment of Mick Mulvaney to serve as...more

Ballard Spahr LLP

Judge’s questions highlight serious concerns he has over English’s bid to claim the Acting Director role at the CFPB

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On December 22, 2017, the U.S. District Court for the District of Columbia held oral arguments on Leandra English’s preliminary injunction motion through which she seeks to block Mick Mulvaney from continuing to serve as the...more

Pillsbury Winthrop Shaw Pittman LLP

The Trump Administration Gets Its Man at the CFPB

Mick Mulvaney is secure in his new title as Acting Director of the Consumer Financial Protection Bureau (CFPB)—at least for now—as a result of a Trump-appointed judge’s decision, issued on November 28, 2017. The decision came...more

Kilpatrick

Showdown Over CFPB Leadership Continues

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In an interesting turn of events over Thanksgiving weekend, outgoing Consumer Financial Protection Bureau (CFPB) Director Richard Cordray promoted CFPB Chief of Staff Leandra English to the position of CFPB deputy director on...more

Ballard Spahr LLP

Can President Trump appoint an Acting Director upon Director Cordray’s departure?

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Given the speculation that Director Cordray will soon resign to run for Ohio governor, we have been pondering whether President Trump could appoint an Acting Director upon his resignation or whether David Silberman, the...more

Ballard Spahr LLP

Some thoughts on President Trump’s authority to replace Director Cordray

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There has been some debate about President Trump’s authority to designate a replacement for Director Cordray should he resign or be removed by the President. The Dodd-Frank Act authorizes the CFPB Director to appoint a...more

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