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How the U.S. Supreme Court Will Decide the Threat to the CFPB’s Funding and Structure: Part II with Adam J. White, a Renowned Expert on Separation of…
How the U.S. Supreme Court Will Decide the Threat to the CFPB’s Funding and Structure: Part II with Adam J. White, a Renowned Expert on Separation of…
ratings:
Length:
32 minutes
Released:
Jan 26, 2023
Format:
Podcast episode
Description
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. Constitution. In Part I, we focused on the legal arguments underlying the Fifth Circuit decision and potential outcomes. In Part II, we discuss the potential practical effects of a Supreme Court decision that holds the CFPB’s funding is unconstitutional on existing CFPB mortgage and other regulations and on pending and future CFPB enforcement actions. In particular, we consider how the current legal uncertainty might factor into the litigation strategy of companies that are the targets of CFPB enforcement activity as well as companies’ compliance strategy. We also consider the uncertainty’s impact on the CFPB’s ongoing operations and conclude with a discussion of how Congress might react if the Supreme Court holds that the CFPB’s funding is unconstitutional. Alan Kaplinsky, Senior Counsel in Ballard Spahr’s Consumer Financial Services Group, moderates the discussion, joined by John Culhane, Richard Andreano, and Michael Gordon, partners in the Group.
Released:
Jan 26, 2023
Format:
Podcast episode
Titles in the series (100)
A Close Look at The Federal Trade Commission’s Proposed Rule For Motor Vehicle Dealers, With Special Guests Sanya Shahrasbi and Daniel Dwyer, Staff Attorneys, FTC Bureau of Consumer Protection, Division of Financial Practices: The FTC’s proposal would impose a number of new substantive and disclosure requirements on motor vehicle dealers in connection with the car buying or leasing process. The topics we cover include: the FTC’s statutory authority for the proposal and... by Consumer Finance Monitor