News & Analysis as of

Separation of Powers Dodd-Frank Wall Street Reform and Consumer Protection Act

Three Things You Missed Since CFPB Received En Banc Hearing in PHH Case

by Hinshaw & Culbertson LLP on

All eyes are on the future of the CFPB as it fights for its existence in the D.C. Circuit Court of Appeals through the matter, PHH Corp. et al. v. Consumer Financial Protection Bureau. On February 16, the D.C. Circuit agreed...more

Whither the CFPB? In Uncertain Times, Rep. Hensarling’s Vision May See New Life

by MoFo Reenforcement on

Given the outcome of the presidential election, the focus is now on President-Elect Trump’s campaign promises to scale back the Dodd-Frank Act and pursue deregulation of financial services. As of now, little is known about...more

CFPB Single-Director Structure Unconstitutional: CFPB Director Now Serves at President’s Will

A divided panel of the U.S. Court of Appeals for the District of Columbia Circuit ruled October 11, 2016, that the current structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. The court concluded...more

Appellate Court Decision Holding CFPB Unconstitutional Promises Significant Implications

In a landmark decision issued last week, the U.S. Court of Appeals for the D.C. Circuit held that the Consumer Financial Protection Bureau’s (CFPB) structure violated the Constitution’s separation-of-powers requirements. In...more

U.S. Court of Appeals Rules Current Structure of CFPB Unconstitutional

The Consumer Financial Protection Bureau’s (CFPB) reign as an unchecked power just suffered a significant check. On Oct. 11, 2016, the U.S. Court of Appeals for the District of Columbia found that the CFPB’s structure was...more

Court of Appeals Says CFPB Is Unconstitutional; Rejects Agency Effort to Apply New Interpretation of Law Retroactively

by Dechert LLP on

The courts are now reacting to what some view as regulatory overreach flowing from U.S. laws enacted in the wake of the financial crisis. The most recent example is the October 11, 2016 decision of the U.S. Court of Appeals...more

D.C. Circuit Judge Expresses Concern That CFPB Concentrates “Huge Power” in Single Director

by BakerHostetler on

Yesterday’s oral argument in the CFPB v. PHH Corporation appeal included sharp questioning about the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) single-director structure, which the parties agreed...more

SEC Use of Administrative Proceedings Challenged Again

by Dorsey & Whitney LLP on

The SEC was granted authority in the Dodd-Frank Act to initiate administrative proceedings against non-regulated persons. In those proceedings the full range of remedies are available – a cease-and-desist order, disgorgement,...more

New lawsuit challenging CFPB’s constitutionality filed

by Ballard Spahr LLP on

Constitutional challenges to the CFPB’s authority have not ended with Director Cordray’s confirmation last week as CFPB Director....more

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Cybersecurity

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