White House, Senate Reach Compromise that Brings NLRB & CFPB Appointments Near
President Obama Appoints Three Members to NLRB, but Will They Be Confirmed?
As Expected, Noel Canning v. NLRB Headed to the Supreme Court
A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
What Next for the NLRB?
Corporate Law Report: Managing Cyber Risks, BYOD, Obama's NLRB Crisis, Iran Sanctions, and More
Past and present Democratic Representatives and Senators filed an amicus brief in support of the motion for a temporary restraining order filed by Leandra English to block Mick Mulvaney from exercising the authority of CFPB...more
Tuesday afternoon, Judge Timothy Kelly of the D.C. federal district court denied Leandra English’s motion for a temporary restraining order (TRO) to prevent President Trump from appointing or recognizing the appointment of a...more
As we reported, the DOJ’s Office of Legal Counsel (OLC) has issued a memorandum to the President’s Counsel in which it opined that the President has the legal right to appoint Mick Mulvaney CFPB Acting Director under the...more
Given the speculation that Director Cordray will soon resign to run for Ohio governor, we have been pondering whether President Trump could appoint an Acting Director upon his resignation or whether David Silberman, the...more
On Monday, the U.S. Supreme Court denied the petition for certiorari in CFPB v. Chance Edward Gordon, a case filed by the CFPB in 2012 that alleged the defendant had duped consumers by falsely promising loan modifications in...more
How important are the titles “temporary” or “permanent” when it comes to an appointee to run a federal agency? Apparently, very important. On March 21, the U.S. Supreme Court waded back into the messy timeline of President...more
The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have filed a "Motion To Intervene In Any En Banc Proceeding That May Be Granted" in the PHH case. The motion follows the D.C. federal district court's...more
There has been some debate about President Trump’s authority to designate a replacement for Director Cordray should he resign or be removed by the President. The Dodd-Frank Act authorizes the CFPB Director to appoint a...more
Here are the highlights from Richard Cordray’s interview earlier today with the Wall Street Journal. He refused to respond to the question of whether or not the memo issued on January 20 on behalf of President Trump by...more
Battle lines over Director Cordray’s future at the CFPB are predictably forming along party lines. Earlier this week, two Republican senators sent a letter to Vice President-elect Pence urging Director Cordray’s removal by...more
Since it was filed in a California federal court in July 2012, we have been following CFPB v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by falsely promising loan modifications in...more
The 2016 Presidential election was arguably the most contentious, unpredictable, and politically polarizing race in this nation's history. The contours of the electoral map changed by the hour in the days leading up to...more
Regulatory Developments - SEC Proposes Amendments to Update and Simplify Disclosure Requirements as Part of Overall Disclosure Effectiveness Review - On July 13, the Securities and Exchange Commission (SEC) proposed...more
The D.C. federal district court has rejected the plaintiffs’ attempt in State National Bank of Big Spring, Texas, et al. v. Lew, et al. to invalidate the actions taken by Director Cordray while he was a recess appointee. The...more
Virtually ever since its inception on July 21, 2011, the Consumer Financial Protection Bureau (CFPB) has inspired wariness and skepticism in the financial institutions and financial services providers, subject to this new...more
The Ninth Circuit recently considered arguments relating to an enforcement action brought by the Consumer Financial Protection Bureau (CFPB) against a California attorney who was offering loan modification services. The CFPB...more
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
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more
For much of the Obama Administration, the National Labor Relations Board (Board) has been operating as, at least from the perspective of some, a rogue agency (and not just because of its willingness to overturn precedent to...more
In late July, the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion upholding a Texas bank’s standing to challenge the constitutionality of the CFPB. The bank filed suit in 2012, raising three...more
As we reported in an earlier blog post, the National Labor Relations Board issued the American Baptist Homes of the West (“Piedmont Gardens”) decision in December 2012, overturning more than 30 years of precedent shielding...more
Last week, the D.C. Circuit Court of Appeals reversed a D.C. District Court decision dismissing a bank’s complaint challenging the constitutionality of the CFPB based on lack of standing. The district court had concluded that...more
Most constitutional challenges to agency action arise as a defense to an enforcement action. However, State National Bank of Big Spring, Texas (the “Bank”) has led a constitutional challenge to the very existence and...more
In State National Bank of Big Spring v. Lew, the United States Court of Appeals for the District of Columbia Circuit ruled that the plaintiff had standing to challenge the constitutionality of the CFPB. The Court made quick...more