Recess Appointments Richard Cordray

News & Analysis as of

D.C. federal district court rejects recess appointment challenge

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

Ninth Circuit Upholds Ruling in Favor of CFPB against Lawyer in Mortgage Relief Scam, Rejects Constitutional Challenge to Director...

The Ninth Circuit recently considered arguments relating to an enforcement action brought by the Consumer Financial Protection Bureau (CFPB) against a California attorney who was offering loan modification services. The CFPB...more

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

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

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

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

D.C. Circuit Rules Small Bank has Standing to Challenge the Constitutionality of Consumer Financial Protection Bureau

Last week, the D.C. Circuit Court of Appeals reversed a D.C. District Court decision dismissing a bank’s complaint challenging the constitutionality of the CFPB based on lack of standing. The district court had concluded that...more

DC Circuit Keeps Alive Bank’s Constitutional Challenge to CFPB’s Existence

Most constitutional challenges to agency action arise as a defense to an enforcement action. However, State National Bank of Big Spring, Texas (the “Bank”) has led a constitutional challenge to the very existence and...more

Bank Has Standing to Challenge Constitutionality of CFPB

In State National Bank of Big Spring v. Lew, the United States Court of Appeals for the District of Columbia Circuit ruled that the plaintiff had standing to challenge the constitutionality of the CFPB. The Court made quick...more

Letter from leading Republicans to Director Cordray questions pre-confirmation actions

Following up on his earlier statement about the impact of the Supreme Court’s decision in NLRB v. Noel Canning on Richard Cordray’s actions taken prior to his July 16, 2013 confirmation by the Senate as CFPB Director,...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

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

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

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

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

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

No Opposition Expected to SG’s Certiorari Petition in Noel Canning

As we reported earlier, the Solicitor General of the United States (SG) has filed in the U.S. Supreme Court a petition for a writ of certiorari to the U.S. Court of Appeals for the District of Columbia Circuit in Noel Canning...more

Further Setback for the CFPB Director’s Authority?

A split panel of the U.S. Court of Appeals for the Third Circuit issued a decision yesterday holding that a “recess” appointment to the National Labor Relations Board (NLRB) was unconstitutional and invalid. NLRB v. New Vista...more

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