On Monday, the first day of its new term, the U.S. Supreme Court denied the petition for a writ of certiorari filed by RD Legal Funding that asked the Court to decide whether the CFPB can ratify actions taken when it was unconstitutionally structured.

In its petition, RD Legal argued that the ratification of the CFPB’s enforcement action by former Director Kraninger was ineffective because, as an agent of the CFPB, she could not ratify an act that the CFPB, as principal, could not take at the time such act was done due to its unconstitutional structure. … Continue Reading

Last Thursday, in addition to agreeing to decide an issue of major significance under the Telephone Consumer Protection Act, the U.S. Supreme Court agreed to decide whether Section 13(b) of the Federal Trade Commission Act, which expressly gives the FTC authority to seek injunctive relief, also authorizes the FTC to seek monetary relief, such as restitution.… Continue Reading