The briefing on the CFPB’s certiorari petition seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB was distributed to the Supreme Court yesterday for consideration at its February 17 conference.  In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading

The CFPB has filed its brief in opposition to the cross-petition for certiorari filed by Community Financial Services Association (CFSA).  The CFPB’s certiorari petition seeks review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB.  In that decision, the panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading

The eyes of the consumer finance world are now on the Supreme Court as it decides whether to grant the CFPB’s certiorari petition in Consumer Financial Services Association Ltd. v. CFPB.  In the decision, a Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading

The eyes of the consumer finance world are now on the Supreme Court as it decides whether to grant the CFPB’s certiorari petition in Consumer Financial Services Association Ltd. v. CFPB.  In the decision, a Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading

Community Financial Services Association (CFSA) has filed its brief in opposition to the CFPB’s certiorari petition seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB.  In that decision, the panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading

Two groups of state attorneys general have filed amicus briefs in the U.S. Supreme Court urging the Court to grant the CFPB’s certiorari petition seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB.  In that decision, the panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading

The eyes of the consumer finance world are now on the U.S. Supreme Court as it decides whether to grant the CFPB’s certiorari petition in Community Financial Services Association of America Ltd. v. CFPB (CFSA Decision).  In the CFSA Decision, a Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading

Last week, the U.S. Supreme Court granted the unopposed request of the Community Financial Services Association for a 30-day extension until January 13, 2023 to file its brief in opposition to the CFPB’s certiorari petition seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd.Continue Reading

The CFPB and All American Check Cashing have agreed to a settlement in the CFPB’s enforcement action filed against All American in 2016 for alleged violations of the CFPA’s UDAAP prohibition in connection with check cashing services and small dollar loans offered by All American.  The settlement comes less than a month after a Fifth Circuit panel ruled in Community Financial Services Association v.Continue Reading

Even though I often disagree with Professor Levitin’s opinions and policy positions about consumer financial services developments, I maintain high respect for him because he is very knowledgeable in this area. Shortly after the Fifth Circuit held that the CFPB was unconstitutionally funded and invalidated the Payday Loan Rule, Adam published a blog on Credit Slips in which he presented a host of reasons why he believes that the case was wrongly decided.… Continue Reading