The Securities and Exchange Commission (SEC) has filed a petition for certiorari with the U.S. Supreme Court seeking review of the Fifth Circuit’s decision in Jarkesy v. Securities and Exchange Commission, a case with significant implications for the use of administrative law judges (ALJs) by federal agencies, including the CFPB. … Continue Reading
The CFPB has finalized a procedural rule that updates its Rules of Practice for Adjudication Proceedings (Rules of Practice). The procedural rule was issued in February 2022 and became effective on February 22, 2022, the date of its publication in the Federal Register. According to the CFPB, because the procedural rule was a rule of agency organization, procedure, and practice, it was exempt from Administrative Procedure Act (APA) notice-and-comment requirements. … Continue Reading
Ballard Spahr attorneys have submitted comments to the CFPB in response to its Request for Information Regarding Bureau Rules of Practice for Adjudication Proceedings.
Our comments are based on the extensive experience of Ballard Spahr attorneys in representing bank and non-bank clients in connection with more than 50 CFPB investigations. … Continue Reading