News & Analysis as of

Recess Appointments

Democratic lawmakers, Republican attorneys general submit amicus briefs in CFPB Acting Director dispute

by Ballard Spahr LLP on

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

TRO denied in CFPB Acting Director dispute; Mulvaney imposes regulatory freeze

by Ballard Spahr LLP on

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

Another argument for why Mick Mulvaney is the CFPB Acting Director

by Ballard Spahr LLP on

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

Can President Trump appoint an Acting Director upon Director Cordray’s departure?

by Ballard Spahr LLP on

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

SCOTUS denies petition for certiorari in case asserting recess appointment defense to CFPB enforcement action

by Ballard Spahr LLP on

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

Son of Noel Canning? Worst Blog Title Ever? Supreme Court Takes Another Shot at NLRB Vacancy History

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

Plaintiffs in Another Case Challenging CFPB's Constitutionality Move to Intervene in PHH Case

by Ballard Spahr LLP on

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

Some thoughts on President Trump’s authority to replace Director Cordray

by Ballard Spahr LLP on

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

Director Cordray’s Wall Street Journal interview today

by Ballard Spahr LLP on

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

Lawmakers take sides on Director Cordray’s future; Senator Warren urges consumer advocates to defend CFPB

by Ballard Spahr LLP on

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

Petition for writ of certiorari filed in case asserting recess appointment defense to CFPB enforcement action

by Ballard Spahr LLP on

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

With the Election (Mercifully) Behind Us, What Will a Trump Administration Mean for Employers?

by Littler on

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

Financial Services Weekly News - July 2016 #3

by Goodwin on

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

D.C. federal district court rejects recess appointment challenge

by Ballard Spahr LLP on

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

A Day of Reckoning for the CFPB?

by Bilzin Sumberg on

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

Ninth Circuit Upholds Ruling in Favor of CFPB against Lawyer in Mortgage Relief Scam, Rejects Constitutional Challenge to Director...

by Ballard Spahr LLP on

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

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

by Ballard Spahr LLP on

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

Ninth Circuit rejects Director Cordray’s recess appointment as defense to CFPB enforcement action; dissenting judge disagrees

by Ballard Spahr LLP on

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

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

by Burr & Forman on

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

Labor Board Hounded by Another Appointment Controversy

by Foley & Lardner LLP on

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

D.C. Circuit Upholds Standing of Texas Bank in Constitutional Challenge to CFPB

by McGuireWoods LLP on

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

NLRB Revisits and Overturns Longstanding Precedent Regarding Disclosure of Witness Statements

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

D.C. Circuit Rules Small Bank has Standing to Challenge the Constitutionality of Consumer Financial Protection Bureau

by Carlton Fields on

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

DC Circuit Keeps Alive Bank’s Constitutional Challenge to CFPB’s Existence

by Burr & Forman on

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

Bank Has Standing to Challenge Constitutionality of CFPB

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

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Cybersecurity

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