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5th Circuit

CFPB Petitions High Court to Consider Decision Holding Funding Structure Unconstitutional

November 29, 2022 By Sam Bragg

A&B Abstract: On November 14, 2022, the Consumer Financial Protection Bureau (“CFPB”) filed a petition for a writ of certiorari in connection with the Fifth Circuit’s recent decision in Community Financial, which held that the CFPB’s funding structure violated the Constitution’s Appropriations Clause.  (For a full discussion of the Community Financial decision, click here.) The […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Supreme Court Decisions Tagged With: #CFPB, 5th Circuit, Case law, Supreme Court

The CFPB’s Funding Structure Held Unconstitutional: The Practical Implications

October 28, 2022 By Sam Bragg and Tyler Blake

A&B ABstract: In another existential challenge to the CFPB, last week the Fifth Circuit held in the Community Financial[1] case that the CFPB’s funding structure is unconstitutional. On this ground, it vacated the CFPB’s Payday Lending Rule. The decision’s rationale, however, is expected to have much further-reaching implications. Simply put, many believe that the Fifth […]

Filed Under: Consumer Financial Protection Bureau (CFPB) Tagged With: #CFPB, 5th Circuit, Fifth Circuit

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