News & Analysis as of

Finance & Banking Constitutional Law

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Court Agrees, Agencies Overstepped Their Authority. What’s Next for CLO Managers?

by White & Case LLP on

Recent Developments in the Application of US Risk Retention to CLOs - On February 9, 2018, the United States Court of Appeals for the District of Columbia Circuit (the "DC Circuit Court") issued an opinion addressing...more

Spokeo IV: Cert Denied and the Circuit Splits Left Behind

by Bryan Cave on

On January 22, 2018, the United States Supreme Court denied a petition for writ of certiorari in Spokeo v. Robins – bringing an end to an appellate saga that started in the Ninth Circuit Court of Appeals before heading up to...more

D.C. Circuit Rules CFPB's View of RESPA Was Wrong but Its Structure is Constitutional

by Ballard Spahr LLP on

On January 31, 2018, the en banc D.C. Circuit handed down its opinion in the PHH v. CFPB case, which we've discussed at length. It held, 7 to 3, that the CFPB's single-director-removable-only-for-cause structure is...more

Mere Statutory FACTA Violations Are Not Enough to Establish Article III Standing

by King & Spalding on

On February 2, 2018, the United States District Court for the Northern District of Alabama dismissed a Fair and Accurate Credit Transaction Act (“FACTA”) lawsuit because, among other things, the plaintiff failed to allege a...more

Is A Prize-Linked Savings Account A Lottery?

by Allen Matkins on

In 2014, the United States Congress enacted the American Savings Promotion Act, P.L. 113–251 (DEC. 18, 2014) permitting financial institutions to offer savings accounts, with the added feature of offering chances to win...more

D.C. Circuit Upholds CFPB’s Constitutionality: Why the PHH Case Underscores the Importance of Internal Agency Discipline

by Dorsey & Whitney LLP on

On January 31, the U.S. Court of Appeals for the D.C. Circuit issued a plurality opinion en banc that confirmed the constitutionality of the Consumer Financial Protection Bureau’s (“CFPB”) governance by a sole Director, while...more

Supreme Court Will Not Look at Spokeo Again, Leaving Lower Courts to Grapple with Article III Uncertainties

by Foley & Lardner LLP on

On January 22, 2018, the United States Supreme Court, quietly and without commentary, declined to review the Ninth Circuit Court of Appeals’ recent decision in the storied Spokeo, Inc. v. Robins case. In 2016, the Supreme...more

Real Property, Financial Services, & Title Insurance Update: Week Ending February 9, 2018

by Carlton Fields on

Misrepresentation/Concealment: genuine issues of material fact remained in dispute regarding whether board-certified real estate attorney committed fraudulent or negligent misrepresentation or concealment by falsely assuring...more

Saved by the En Banc: CFPB Appears Here To Stay

by K&L Gates LLP on

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has been an agency under fire. Acting Director Mick Mulvaney has begun to institute significant changes at the Bureau. And last year, a panel of the D.C. Circuit...more

Supreme Court Rejects Spokeo Review

Once was enough, the U.S. Supreme Court signaled when it denied a writ of certiorari filed by Spokeo, Inc., seeking further clarification on Article III standing....more

Five amicus briefs filed in support of English appeal

by Ballard Spahr LLP on

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

Just Before the Super Bowl, the D.C. Circuit in PHH Mortgage gives Industry a Field Goal, Withholds Touchdown

Following nearly three years of litigation, the D.C. Circuit handed down a 7 to 3 ruling in PHH Corp. v. Consumer Financial Protection Bureau. The two hundred fifty page opinion addressed not only the constitutional...more

Win Some, Lose Some: Trump Gets A Loss And A Win In The Fight To Control The CFPB

by Seyfarth Shaw LLP on

Seyfarth Synopsis: One court upholds protection of Dodd-Frank limiting the President’s removal authority, while another court stifles a challenge against Mulvaney serving as acting Director of CFPB....more

CFTC and DOJ File a Flurry of Spoofing Actions

On January 29, 2018, the Commodity Futures Trading Commission (CFTC) announced the filing of eight anti-spoofing enforcement actions: three settlements with financial institutions and five complaints filed in federal district...more

D.C. Circuit Issues Long-awaited Decision in PHH Corp. v. CFPB, Reinstating the Panel’s RESPA Holdings

by Goodwin on

On January 31, 2018, the U.S. Court of Appeals for the D.C. Circuit (D.C. Circuit), sitting en banc, issued its long-awaited decision in PHH Corp. v. CFPB, holding that the provision of the Dodd-Frank Act shielding the single...more

CFPB seeks comments on its administrative enforcement proceedings

by Ballard Spahr LLP on

The CFPB has issued a request for information that seeks comment on how the CFPB can improve its administrative adjudication processes, including its “Rules of Practice for Adjudication Proceedings” codified at 12 CFR part...more

D.C. Circuit Rules CFPB’s View of RESPA Was Wrong But its Structure is Constitutional

by Ballard Spahr LLP on

On January 31, 2018, the en banc D.C. Circuit handed down its opinion in the PHH v. CFPB case, which we’ve discussed at length. It held, 7 to 3, that the CFPB’s single-director-removable-only-for-cause structure is...more

PHH’s hidden gem

by Bricker & Eckler LLP on

The long-awaited en banc decision in PHH Corp., v. CFPB has finally been issued. The Court of Appeals for the D.C. Circuit upheld the constitutionality of the Consumer Financial Protection Bureau (CFPB) and reversed a prior...more

Long-awaited Decision in PHH Corp. v. Consumer Financial Protection Bureau

by Goodwin on

On January 31, 2018, the U.S. Court of Appeals for the D.C. Circuit, sitting en banc, issued its long-awaited decision in PHH Corp. v. CFPB, holding that the provision of the Dodd-Frank Act shielding the single director of...more

PHH v. CFPB: Beyond the Headlines, A Big Win For Industry

by Morrison & Foerster LLP on

There was something for everyone in the long-awaited decision from the en banc D.C. Circuit in PHH Corp. v. CFPB. In the part of the decision that has garnered widespread attention, the D.C. Circuit held that the structure of...more

CFPB is Constitutional, But Makes $100 Million Mistake In Interpreting the Law

by Clark Hill PLC on

The D.C. Circuit Court of Appeals issued its long awaited decision in PHH v. Consumer Financial Protection Bureau, holding by a 7-3 decision that the Consumer Financial Protection Bureau’s (CFPB or Bureau) single-Director...more

The CFPB is not going anywhere—Except Maybe the U.S. Supreme Court—Following DC Circuit en banc Decision

by Hinshaw & Culbertson LLP on

We've been following PHH's longstanding challenge of the CFPB's imposition of a fine against it for alleged RESPA kickback violations, through which elemental questions regarding the Bureau's constitutionality were tested....more

Reversing Course, D.C. Circuit Declares CFPB Structure Constitutional

In a divided ruling of the entire U.S. Court of Appeals for the D.C. Circuit, the court held that the Consumer Financial Protection Bureau (CFPB) structure is constitutional, reflecting a legislative desire to establish a...more

Full D.C. Circuit Rejects CFPB Interpretation of RESPA, Holds Agency Structure Constitutional

by Weiner Brodsky Kider PC on

The full D.C. Circuit Court of Appeals on Wednesday reinstated a three-judge panel’s decision holding that the CFPB’s interpretation of Section 8 of the Real Estate Settlement Procedures Act (RESPA) is contrary to law and...more

Full Panel of D.C. Circuit Upholds CFPB Structure, Reversing Earlier Decision

by Kelley Drye & Warren LLP on

Earlier today, an en banc panel of the U.S. Court of Appeals for the D.C. Circuit ruled that the CFPB was constitutionally structured, reversing an earlier decision by a divided three-judge panel and holding that the...more

1,230 Results
|
View per page
Page: of 50
Cybersecurity

Follow Finance & Banking Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.