Having granted the certiorari petition filed by the CFPB seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB, the U.S. Supreme Court has granted the parties’ joint request to extend the time to file the briefs on the merits. The Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule.
The Supreme Court extended the time to file the joint appendix and the CFPB’s brief on the merits to and including May 8, 2023. It extended the time to file CFSA’s brief on the merits to and including July 3, 2023. The CFPB’s reply brief must be filed by August 2, 2023.
Not unexpectedly, this is a very protracted briefing schedule which will facilitate the filing of numerous amicus briefs supporting both sides. Since the briefing will be completed in August, we would expect oral argument to occur early in the Supreme Court’s new Term that begins in October 2023.