The United States Supreme Court ruled on June 24, 2021, in Collins v. Yellin that a restriction on the President’s power to remove the director of the Federal Housing Finance Agency at will is unconstitutional as a violation...more
In its decision earlier this week in Collins v. Yellin (previously captioned Collins v. Mnuchin), the U.S. Supreme Court, relying on its decision in Seila Law, held that the Federal Housing Finance Agency’s structure is...more
On June 23, 2021, the Supreme Court of the United States (“Supreme Court”) ruled that the director of the Federal Housing Finance Agency (“FHFA”) must be removable and that the tenure protections put in place by the 2008...more
On June 23, 2021, the U.S. Supreme Court decided Collins v. Yellin, holding that: (1) shareholders could not bring a claim that the Federal Housing and Finance Agency (FHFA) violated the Housing and Economic Recovery Act of...more
On June 29, the Supreme Court issued its long-awaited opinion in Seila Law LLC v. Consumer Financial Protection Bureau, finally resolving the question that has dogged the new agency since its inception: Is the leadership...more
Last Monday, in Seila Law v. CFPB, the U.S. Supreme Court held that the structure of the CFPB, with a single-director who the President could not remove without cause, violates the separation of powers mandated by the U.S....more
In a long-awaited ruling, the Supreme Court in Seila Law has ruled, in a 5-4 decision, that the structure of the Consumer Financial Protection Bureau is unconstitutional in that it limits the ability of the President to fire...more
The U.S. Supreme Court heard argument on March 3, 2020, in Seila Law v. CFPB. The case involves a constitutional challenge to the structure of the Consumer Financial Protection Bureau (CFPB) by a California law firm under...more
On March 3, the Supreme Court heard argument in Seila Law LLC v. Consumer Financial Protection Bureau, a case involving two questions about the structure of the CFPB: (1) whether the provision of the Dodd-Frank Wall Street...more
The U.S. Supreme Court heard oral argument yesterday morning in Seila Law. The two questions before the Court are whether the provision in Title X of the Dodd-Frank Act that only allows the President to remove the CFPB...more
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
Amicus briefs have been filed in the U.S. Supreme Court in support of Paul Clement, who was appointed amicus curiae by the Court to defend the Ninth Circuit’s ruling in Seila Law that the CFPB’s structure is constitutional. ...more
Seila Law has filed a motion with the U.S. Supreme Court requesting an enlargement of the time allocated for oral argument (scheduled for March 3) and a division of the time to accommodate “the unusual circumstances for oral...more
Paul Clement, who was appointed amicus curiae by the U.S. Supreme Court to defend the Ninth Circuit’s ruling in Seila Law that the CFPB’s structure is constitutional, filed a brief with the Supreme Court this week in support...more
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
The first round of amicus briefs have been filed with the U.S. Supreme Court in Seila Law. All of the amici that take a position on the Bureau’s constitutionality agree with the position taken by both Seila Law and the CFPB...more
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
The U.S. Supreme Court has scheduled oral argument in Seila Law on March 3, 2020. The question presented in Seila Law’s petition is whether the CFPB’s single-director-removable-only-for-cause structure violates the...more