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Dodd-Frank Wall Street Reform and Consumer Protection Act › Article III

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Benesch

Will Jarkesy Be a Fatal Blow to Civil Enforcement in Administrative Agency Proceedings?

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The end of the Supreme Court’s recent term saw two major decisions in the field of administrative law: Loper Bright Enterprises v. Raimondo and Securities & Exchange Commission v. Jarkesy. The Loper Bright decision, which...more

Balch & Bingham LLP

Ripple Effects Of SEC Adjudication Ruling May Be Momentous

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Suppose that your nemesis has a legal beef with you, and you learn that the law allows him to appoint one of his employees to judge the case. Shocked? You should be. Yet federal agency adjudication works the same way. How...more

Paul Hastings LLP

The Consequential Impact of the Supreme Court’s Monumental Ruling in SEC v. Jarkesy

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On June 27, 2024, the Supreme Court of the United States issued its decision in SEC v. Jarkesy, holding that the Securities and Exchange Commission (“SEC”) must prosecute securities fraud before a federal court whenever it...more

Foley & Lardner LLP

U.S. Supreme Court Rules SEC Must Try Securities Fraud Cases in Federal Jury Trials Rather than In-House Courts

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On June 27, 2024, the U.S. Supreme Court ruled that when the SEC seeks civil penalties against a defendant for securities fraud, the Seventh Amendment entitles the defendant to a jury trial. In a 6–3 decision, Chief Justice...more

Seyfarth Shaw LLP

The Supreme Court Will Determine When Federal Agencies Must Provide for the Right to a Jury Trial in Civil Enforcement Actions

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The United States Supreme Court recently granted Certiorari in a closely watched case that could have significant consequences for the Securities and Exchange Commission (SEC) and certain other federal administrative...more

Ballard Spahr LLP

CFPB files opposition to preliminary injunction motion in lawsuit challenging Section 1071 final rule

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The CFPB has filed its opposition to the motion seeking a preliminary injunction filed by the plaintiffs in the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule)....more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – January 2021

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The Need for Compensable Damage to Prove Standing - The United States Supreme Court has issued a decision in Spokeo v. Robbins. In this Fair Credit Reporting Act (FCRA) case, the Supreme Court considered whether Congress...more

Ballard Spahr LLP

SCOTUS enters order dividing and enlarging time for oral argument in Seila Law

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The U.S. Supreme Court entered an order last Friday that divides and enlarges the time for oral argument in Seila Law, which is scheduled for March 3. ...more

Ballard Spahr LLP

U.S. Supreme Court to decide CFPB’s constitutionality

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This past Friday, the U.S. Supreme Court announced that it has agreed to decide whether the CFPB’s single-director-removable-only-for-cause structure is constitutional.  The Court granted Seila Law’s petition for a writ of...more

Ballard Spahr LLP

FHFA reverses position (again) on its constitutionality

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In an interesting twist, the FHFA has informed the Fifth Circuit in Collins v. Mnuchin, that despite having previously advised the en banc court that it would not defend the FHFA’s constitutionality, it has reconsidered its...more

Carlton Fields

Real Property & Financial Services Update: Week Ending February 16 & 23, 2018

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REAL PROPERTY UPDATE - Breach of Contract/Damages: court erred by precluding setoff when calculating damages because purpose of award is to restore the injured party to the position it would have realized no for the other...more

Dorsey & Whitney LLP

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

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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

Seyfarth Shaw LLP

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

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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

Burr & Forman

6th Circuit Rejects GOP Suit Against MA Pay-to-Play Rule

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The Sixth Circuit Court of Appeals dismissed a suit by the Tennessee, Georgia and New York Republican parties challenging the constitutionality of an MSRB extending pay-to-play prohibition to municipal advisors. The Court...more

Ballard Spahr LLP

D.C. Circuit grants CFPB’s petition for rehearing en banc in PHH case

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The D.C. Circuit has entered an order granting the CFPB’s petition for rehearing en banc in the PHH case.  Because the order was issued per curiam, it does not indicate which of the active judges voted to grant the petition...more

Ballard Spahr LLP

PHH opposes motion to intervene filed by Democratic lawmakers

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PHH has filed a response in opposition to the motion filed with the D.C. Circuit by Democratic lawmakers Senator Sherrod Brown and Representative Maxine Waters to intervene in the PHH appeal.  The lawmakers are, respectively,...more

Baker Donelson

Supreme Court Reshapes Consumer Financial Law with Two Recent Decisions

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The Supreme Court issued two interesting decisions recently that will affect the consumer financial industry. In Spokeo, Inc. v. Robins, the Court held that when it comes to Fair Credit Reporting Act (FCRA) violations,...more

Ballard Spahr LLP

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

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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

Carlton Fields

D.C. Circuit Upholds Bank’s Standing to Challenge Constitutionality of CFPB

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The D.C. Circuit Court of Appeals reversed a district court decision dismissing a bank’s challenge to the constitutionality of the CFPB based on lack of standing. The district court had previously concluded that compliance...more

Allen Matkins

Oxfam America Takes A Stand, But Does It Have Standing?

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Recently, I wrote about Oxfam America’s new lawsuit against the Securities and Exchange Commission for failing to adopt a final rule implementing Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. ...more

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