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Constitutional Challenges Regulatory Oversight Consumer Financial Protection Bureau (CFPB)

Ballard Spahr LLP

DC Circuit so far largely upholds Judge Jackson’s order preliminarily enjoining the CFPB Acting Director from shutting down the...

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On Friday, April 11, a panel of the D.C. Circuit Court of Appeals modified Judge Jackson’s preliminary injunction order of March 28 pending appeal, as follows...more

Katten Muchin Rosenman LLP

President Trump Executive Order on Supervision of 'Independent' Agencies

Amidst a blitz of executive action, on February 18, President Donald Trump signed an executive order entitled “Ensuring Accountability for all Agencies” (Executive Order) exerting more direct control over “independent...more

Troutman Pepper Locke

Court Issues “Pause” in NTEU Lawsuit Against CFPB

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As discussed here, on February 9, the National Treasury Employees Union (NTEU), which includes members employed by the Consumer Financial Protection Bureau (CFPB or Bureau), filed a lawsuit in the District Court for the...more

Pillsbury - Gravel2Gavel Construction & Real...

The 2023 Term of the Supreme Court: Administrative and Regulatory Law Rulings

It is instructive to review the Supreme Court’s record in its most recent term, concentrating on regulatory and administrative law cases, which are usually back-burner issues. But not this term....more

Epstein Becker & Green

The Validity of More Than a Decade’s Worth of Federal Regulations Are at Stake as the U.S. Supreme Court Decides the...

Epstein Becker & Green on

On October 3, 2023, the United States Supreme Court heard oral argument in Community Financial Services Association of America Ltd., et al. v. Consumer Financial Protection Bureau, et al., in which the Court was asked to...more

Cadwalader, Wickersham & Taft LLP

CFPB Funding Challenge: Supreme Court Appears Skeptical

On October 3, 2023, the U.S. Supreme Court heard oral argument in CFPB v. Community Financial Services Association of America to decide whether the CFPB’s funding structure violates the Constitution’s Appropriations Clause....more

Troutman Pepper Locke

Supreme Court Denies Oral Argument to Republican State AGs Who Argue That the CFPB Funding Mechanism Is Unconstitutional

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On August 21, the U.S. Supreme Court denied a request by West Virginia Attorney General (AG) Patrick Morrisey and 26 other state AGs to participate in oral arguments in Consumer Financial Protection Bureau (CFPB) et al. v....more

Ballard Spahr LLP

SCOTUS to hear oral argument on Oct. 3 in case challenging constitutionality of CFPB’s funding

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The U.S. Supreme Court has scheduled oral argument on October 3, 2023 in Community Financial Services Association of America Ltd. v. CFPB.  In the case, CFSA has asked the Supreme Court to affirm the Fifth Circuit panel’s...more

Robins Kaplan LLP

Financial Daily Dose 3.5.2020 | Top Story: HP Rejects Xerox’s Hostile Takeover Bid

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HP has officially rejected Xerox’s enhanced takeover bid, again calling the offer “too low” and decrying its “disproportionate[] benefit” for Xerox shareholders....more

Ballard Spahr LLP

CBA urges House leadership to enact legislation to change CFPB leadership structure to bipartisan commission

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The Consumer Bankers Association has sent a letter to the leadership of the House of Representatives urging the House to enact legislation that replaces the CFPB’s single director leadership structure with a five-person,...more

Perkins Coie

Court Rules That Consumer Financial Protection Bureau Is Unconstitutional

Perkins Coie on

Summary of SDNY order holding that CFPB is unconstitutional - CFPB v. RD Legal Funding, LLC, 17-cv-890 (June 21, 2018, S.D.N.Y.) - Last week, a federal court in New York ruled that the entire Consumer Financial...more

Ballard Spahr LLP

Senate Banking Committee Probes Mulvaney’s Leadership at the CFPB

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On April 12, 2018, Mick Mulvaney, the Acting Director of the Consumer Financial Protection Bureau (Bureau) testified before the Senate Committee on Banking, Housing, and Urban Affairs regarding the Bureau’s Semi-Annual Report...more

Foley & Lardner LLP

RESPA and UDAAP Enforcement Following The PHH Decision: What To Expect

Foley & Lardner LLP on

As anyone who is associated with the residential real estate settlement services industry can appreciate, resolution of the PHH case by the full bench of the D.C. Circuit Court of Appeals has brought much-needed clarity and...more

Ballard Spahr LLP

CFPB seeks comments on its administrative enforcement proceedings

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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

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Fed held its last Open Markets Committee meeting under outgoing Chair Yellen, and it agreed to hold the benchmark rate in a range between 1.25% and 1.5%. Here’s the lowdown....more

Stinson LLP

Will the New Year Bring a New CFPB? Planning in the Wake of Uncertainty

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The Consumer Financial Protection Bureau (CFPB) was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in July 2010 in the wake of a financial crisis, as an independent agency tasked with...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Wells Fargo’s Board Chair, Stephen Sanger, did survive his reelection vote the other day. Barely. But Breakingviews thinks he should think awfully hard about his future as a Director at the bank....more

Polsinelli

Banking and Financial Institutions Newsletter

Polsinelli on

President Trump Issues Executive Order Instructing Review of Financial Regulations - President Donald Trump on February 3rd issued an Executive Order (EO) detailing his Administration’s core principles for financial...more

Ballard Spahr LLP

Trump Administration issues regulatory freeze; application to CFPB uncertain

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On Inauguration Day, Reince Priebus, Assistant to the President and Chief of Staff, issued a “Memorandum for the Heads of Executive Departments and Agencies” with the subject line “Regulatory Freeze Pending Review” that...more

Ballard Spahr LLP

Democratic leadership plans to oppose change in CFPB structure

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As Inauguration Day approaches, the rhetoric about the CFPB’s future continues to heat up.  American Banker reported that, on a conference call with reporters earlier this week, Senate Minority Leader Charles Schumer stated...more

Carlton Fields

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

Carlton Fields on

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - CTFC Approves Proposed Rules Addressing Application of Certain CEA Regulations to Cross-Border Transactions - On October 11, 2016, the U.S. Commodity Futures Trading Commission...more

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