The CFPB has filed its brief with the U.S. Supreme Court seeking reversal 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. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule (Payday Rule).… Continue Reading
appropriations
Certiorari petition to be filed in Second Circuit case rejecting constitutional challenge to CFPB’s funding
By Alan S. Kaplinsky & Michael Gordon on
Posted in CFPB, Regulatory and Enforcement
In CFPB v. Law Offices of Crystal Moroney, a three-judge panel of the U.S. Court of Appeals for the Second Circuit unanimously ruled in March 2023 that the CFPB’s funding structure does not violate the Appropriations Clause of the U.S. Constitution and rejected Moroney’s attempt to invalidate the CFPB’s civil investigative demand issued to Moroney. … Continue Reading
This week’s podcast episode: CFSA v. CFPB moves to U.S. Supreme Court: a closer look at the constitutional challenge to the Consumer Financial Protection Bureau’s funding, with special guest, GianCarlo Canaparo, Senior Legal Fellow in the Heritage Foundation’s Edwin Meese III Center for Legal and Judicial Studies
By Barbara S. Mishkin on
Posted in CFPB, Litigation and Court Decisions
The U.S. Supreme Court has agreed to review the Fifth Circuit decision in CFSA v. CFPB that held the CFPB’s funding violates the Appropriations Clause of the U.S. Constitution. After reviewing the history of the case from its initial filing to the Supreme Court’s grant of certiorari, we discuss the Fifth Circuit’s interpretation of the Appropriations Clause and the Second Circuit’s conflicting interpretation in its recent decision holding that the CFPB’s funding is constitutional and assess the strength of each interpretation and the reasoning of each decision. … Continue Reading
Will the Second Circuit’s ruling that the CFPB’s funding is constitutional change the outcome in CFSA v. CFPB? Some thoughts on the question
By Alan S. Kaplinsky on
Posted in CFPB, Litigation and Court Decisions
Many people have asked me if the Second Circuit’s opinion in CFPB v. Law Offices of Crystal Moroney, which held that the CFPB’s funding does not violate the Appropriations Clause, changes my mind about how the Supreme Court will rule in CFSA v. CFPB. It is noteworthy that two of the three judges on the Second Circuit panel were appointed by Republican Presidents, including one appointed by President Trump. … Continue Reading
Second Circuit rules CFPB’s funding does not violate Appropriations Clause
A three-judge panel of the U.S. Court of Appeals for the Second Circuit has unanimously ruled that the CFPB’s funding structure does not violate the Appropriations Clause of the U.S. Constitution. In its decision, the panel expressly declined to follow the Fifth Circuit panel decision in Community Financial Services Association of America Ltd.… Continue Reading
SCOTUS extends briefing schedule in case challenging constitutionality of CFPB’s funding
By Michael Gordon & Alan S. Kaplinsky on
Posted in CFPB, Litigation and Court Decisions
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.… Continue Reading
SCOTUS agrees to decide whether CFPB’s funding is unconstitutional but will not hear case until next Term
The U.S. Supreme Court has 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. In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading
No ruling yet from SCOTUS on CFPB petition for certiorari seeking review of Fifth Circuit ruling that CFPB’s funding is unconstitutional
By Barbara S. Mishkin on
Posted in CFPB, Litigation and Court Decisions
The order list issued this morning by the U.S. Supreme Court did not include a ruling on 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. In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.… Continue Reading
Briefing on CFPB certiorari petition seeking review of Fifth Circuit ruling that CFPB’s funding is unconstitutional and CFSA cross-petition for certiorari distributed to Supreme Court for consideration at February 17 conference
Posted in CFPB, Litigation and Court Decisions
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
CFPB files opposition to CFSA cross-petition for certiorari; payment processor trade group files amicus brief in support of cross-petition
Posted in CFPB, Litigation and Court Decisions
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