News & Analysis as of

Civil Investigation Demand Seila Law LLC v Consumer Financial Protection Bureau

Ballard Spahr LLP

No further Supreme Court review to be sought by Seila Law

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Seila Law has sent a letter advising the Ninth Circuit that it will not seek further review from the U.S. Supreme Court....more

Goodwin

Ninth Circuit Stays Mandate in Seila Law Pending Resolution of Petition to Supreme Court

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On June 1, 2021, the Ninth Circuit, in CFPB v. Seila Law LLC, No. 17-56324, granted Seila Law LLC’s motion to stay the mandate requiring its compliance with a civil investigative demand, while it petitions the U.S. Supreme...more

Ballard Spahr LLP

Ninth Circuit stays mandate in Seila Law

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The Ninth Circuit has granted Seila Law’s motion for a stay of the mandate pending its filing of a petition for a writ of certiorari in the U.S. Supreme Court....more

Ballard Spahr LLP

Four judges dissent from Ninth Circuit denial of rehearing en banc in Seila Law; Seila Law asks Ninth Circuit to stay mandate...

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In December 2020, after the U.S. Supreme Court ruled that the CFPB’s structure was unconstitutional and remanded the case for further consideration, a unanimous panel of the U.S. Court of Appeals for the Ninth Circuit ruled...more

Cadwalader, Wickersham & Taft LLP

CFPB Suit Against Student Loan Trusts Dismissed

On March 26, 2021, Judge Maryellen Noreika of the U.S. District Court for the District of Delaware dismissed a lawsuit brought by the Consumer Financial Protection Bureau (“CFPB”) in Consumer Financial Protection Bureau v....more

Ballard Spahr LLP

Ninth Circuit hears oral argument in Seila Law on remand from SCOTUS

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Last Thursday, on remand from the U.S. Supreme Court, the U.S. Court of Appeals for the Ninth Circuit heard oral argument in Seila Law. The members of the three judge panel were Judge Susan Graber and Judge Paul Watford...more

Ballard Spahr LLP

Seila Law files supplemental brief with Ninth Circuit

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Last week, Seila Law filed its supplemental brief with the Ninth Circuit. The CFPB filed its supplemental brief last month....more

Ballard Spahr LLP

NY Federal District Court Grants CFPB Petition To Enforce CID Ratified By Director Kraninger

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On August 18, Judge Kenneth M. Karas of the Southern District of New York, granted the CFPB’s petition to enforce a civil investigative demand that it issued to the Law Offices of Crystal Moroney prior to the U.S. Supreme...more

Ballard Spahr LLP

CFPB files ratification with Ninth Circuit in Seila Law; Ninth Circuit orders supplemental briefing on ratification

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The CFPB has filed a declaration with the Ninth Circuit in which Director Kraninger stated that she has ratified the Bureau’s decisions to issue a civil investigative demand to Seila Law, deny Seila Law’s request to modify or...more

Hudson Cook, LLP

Supreme Court’s Seila Law Decision Brings Clarity to the CFPB (for Now)

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In June, the Supreme Court struck down the leadership structure of the CFPB as unconstitutional. (The case is Seila Law LLC v. CFPB, No. 19-7 (June 29, 2020), and the decision is here.) The case resolves a long-simmering...more

Hinshaw & Culbertson - Consumer Crossroads

SCOTUS Holds CFPB’s Single Director Structure Unconstitutional, Leaves Open Questions on Existing Bureau Matters

Earlier today, the United States Supreme Court issued a two part decision in Seila Law LLC v. Consumer Financial Protection Bureau. The Court first decided, in a 5-4 decision with Chief Justice Roberts authoring the Court's...more

Alston & Bird

Supreme Court Hears the CFPB Declare Itself Unconstitutional

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Our Financial Services Litigation Team dives into the oral argument before the U.S. Supreme Court that could decide the fate of the Consumer Financial Protection Bureau....more

Ballard Spahr LLP

Director Kraninger rejects constitutionality challenge as basis for setting aside CID

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CFPB Director Kraninger has rejected the argument made by Equitable Acceptance Corp (EAC) that because the Bureau’s structure is unconstitutional, the civil investigative demand it received from the Bureau should be set aside...more

Ballard Spahr LLP

Seila Law and CFPB file briefs in U.S. Supreme Court

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Seila Law and the CFPB filed their briefs yesterday in the U.S. Supreme Court.  Both briefs address the question presented in Seila Law’s certiorari petition, which is whether the CFPB’s...more

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