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Financial Services Industry Community Financial Services Association Constitutional Challenges

Burr & Forman

United States Supreme Court Rejects Challenge to the Consumer Financial Protection Bureau’s Funding Mechanism

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Last Thursday, the Supreme Court upheld the Congressional funding mechanism used to fund the Consumer Financial Protection Bureau (CFPB), overruling a Fifth Circuit decision that found the funding mechanism violated the...more

Manatt, Phelps & Phillips, LLP

Challenging the CFPB After CFPB v. CFSA

On May 16, 2024, the United States Supreme Court issued its long-awaited opinion in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd., holding that the CFPB’s unique funding...more

Troutman Pepper

The Decision Is In: The Supreme Court Upholds the CFPB’s Funding Structure

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Last week, the U.S. Supreme Court issued its long-awaited decision in Community Financial Services Association of America, Limited (CFSA) v. Consumer Financial Protection Bureau (CFPB or Bureau) holding that the CFPB’s...more

Wiley Rein LLP

Supreme Court Upholds CFPB Funding Structure as Constitutional

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On May 16, 2024, the U.S. Supreme Court issued its decision in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd. In an opinion by Justice Thomas, the Court held, 7-2, that...more

Stinson LLP

SCOTUS Opines in Favor of CFPB on Constitutionality of Funding

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The U.S. Supreme Court ruled last week that the Consumer Financial Protection Bureau (CFPB) is constitutionally funded, ending a lengthy challenge by a payday lender to its funding structure under the U.S. Constitution's...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The U.S. Supreme Court’s Decision in CFSA v CFPB: Who Will Win and What Does It Mean?...

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On October 3, 2023, the U.S. Supreme Court held oral argument in CFSA v. CFPB, a case with profound potential implications for the future of the CFPB. The Court will rule on whether the CFPB’s funding mechanism violates the...more

Epstein Becker & Green

The Validity of More Than a Decade’s Worth of Federal Regulations Are at Stake as the U.S. Supreme Court Decides the...

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On October 3, 2023, the United States Supreme Court heard oral argument in Community Financial Services Association of America Ltd., et al. v. Consumer Financial Protection Bureau, et al., in which the Court was asked to...more

Orrick, Herrington & Sutcliffe LLP

Supreme Court hears oral argument in challenge to CFPB

On October 3, the Supreme Court heard oral argument in Community Financial Services Association of America v. Consumer Financial Protection Bureau—a case presenting the most significant challenge yet to the constitutionality...more

Cadwalader, Wickersham & Taft LLP

CFPB Funding Challenge: Supreme Court Appears Skeptical

On October 3, 2023, the U.S. Supreme Court heard oral argument in CFPB v. Community Financial Services Association of America to decide whether the CFPB’s funding structure violates the Constitution’s Appropriations Clause....more

Troutman Pepper

Supreme Court Hears Arguments on Challenge to CFPB’s Funding Structure

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On October 3, the U.S. Supreme Court heard arguments in Community Financial Services Association of America, Limited (CFSA) v. Consumer Financial Protection Bureau (CFPB or Bureau), a case in which the Fifth Circuit held that...more

Ballard Spahr LLP

CFPB files reply brief with SCOTUS in case challenging constitutionality of CFPB’s funding

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The CFPB has filed its reply brief with the U.S. Supreme Court in Community Financial Services Association of America Ltd. v. CFPB. In the case, CFSA has asked the Supreme Court to affirm the Fifth Circuit panel’s decision...more

Ballard Spahr LLP

Why the Texas federal court should have gone further in preliminarily enjoining the CFPB from implementing and enforcing its small...

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On Monday, the Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) issued an order that preliminarily enjoins the CFPB from...more

Troutman Pepper

Texas Federal Court Enjoins CFPB’s Enforcement of its Section 1071 Rule Against Plaintiffs and Their Members Pending U.S. Supreme...

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As discussed here, on April 26, the Texas Bankers Association, the American Bankers Association (ABA), and Rio Bank, McAllen, Texas (Rio Bank) filed a complaint in the U.S. District Court for the Southern District of Texas...more

Ballard Spahr LLP

SCOTUS to hear oral argument on Oct. 3 in case challenging constitutionality of CFPB’s funding

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The U.S. Supreme Court has scheduled oral argument on October 3, 2023 in Community Financial Services Association of America Ltd. v. CFPB.  In the case, CFSA has asked the Supreme Court to affirm the Fifth Circuit panel’s...more

Ballard Spahr LLP

16 amicus briefs filed with SCOTUS in support of CFSA’s position that CFPB’s funding mechanism is unconstitutional

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Sixteen amicus briefs have been filed with the U.S. Supreme Court in support of the position of the Community Financial Services Association of America (CFSA) that the Court should affirm the Fifth Circuit panel decision in...more

Troutman Pepper

Texas Bankers Challenge CFPB’s Section 1071 Rule

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On April 26, the Texas Bankers Association and Rio Bank, McAllen, Texas filed a complaint in the U.S. District Court for the Southern District of Texas challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau)...more

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