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Funding Federal Reserve

Goodwin

Supreme Court Hears Oral Argument on the Constitutionality of the Funding of the CFPB

Goodwin on

The Supreme Court heard oral arguments on October 3, 2023 in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd. The issue before  the Court is whether the CFPB’s funding...more

Hinshaw & Culbertson - Consumer Crossroads

How Much Is Too Much? Oral Arguments in Much Anticipated CFPB Funding Case Leave Justices Wondering

Early in October, the Supreme Court heard oral arguments in Consumer Financial Protection Bureau v. Community Financial Services Association of America Ltd (CFPB v. CFSA). The appeal stems from a 2021 Western District of...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2023

A federal court has issued an order granting an injunction that delays the compliance dates for the CFPB’s final rule governing the collection of small business lending data required by Section 1071 of the Dodd-Frank Wall...more

Troutman Pepper

CFPB Files Cert Petition Requesting Expedited Review of Fifth Circuit Decision Finding Funding Structure Unconstitutional

Troutman Pepper on

As discussed here, on October 19, a three-judge panel of the Fifth Circuit Court of Appeals held that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism violates the appropriations clause because the CFPB...more

Ballard Spahr LLP

CFPB asks SCOTUS to review Fifth Circuit ruling that CFPB’s funding is unconstitutional and hear argument in April 2023

Ballard Spahr LLP on

The CFPB has filed a certiorari petition with the U.S. Supreme Court seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB that held the CFPB’s funding...more

Goodwin

Fifth Circuit Issues Decision Holding that the Funding Mechanism for the Consumer Financial Protection Bureau Is Unconstitutional

Goodwin on

On October 19, 2022, the Fifth Circuit Court of Appeals (Fifth Circuit) held that the funding mechanism for the Consumer Financial Protection Bureau (CFPB) is unconstitutional and violates the Appropriations Clause of the...more

Holland & Knight LLP

Fifth Circuit Rules CFPB's Self-Funding Mechanism Is Unconstitutional

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) has once again faced constitutional challenges. On Oct. 19, 2022, the U.S. Court of Appeals for the Fifth Circuit held that the agency's "unique" self-funding scheme is...more

Bradley Arant Boult Cummings LLP

Expansion of Federal Reserve’s Municipal Liquidity Facility

On April 27, 2020, the Federal Reserve announced major changes to its Municipal Liquidity Facility (MLF) initiative. These changes were designed to expand and ease the eligibility requirements for governmental bodies to...more

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