We recently reported that, upon remand from the Supreme Court (after it ruled that the CFPB’s funding mechanism is Constitutional), the plaintiff-trade groups filed a petition for rehearing en banc in the Fifth Circuit in the CFSA v. CFPB case. In the petition, they requested the Fifth Circuit en banc to rehear other claims in their case attacking the remnants of the CFPB’s payday lending regulation which had earlier been rejected by the same Fifth Circuit panel of judges who held that the CFPB was unconstitutionally funded. On Thursday, the Fifth Circuit issued an order requiring the CFPB to respond to the petition by July 29. (The CFPB has filed an unopposed motion to extend the opposition response date until August 5.) This is an ominous development for the CFPB.

[View source.]