The U.S. Court of Appeals for the D.C. Circuit (the “court”) has issued its long-awaited en banc decision in PHH v. CFPB. In a January 31, 2018 opinion, the court rejected the three-judge panel’s conclusion that the structure of the Consumer Financial Protection Bureau (“CFPB”) is unconstitutional. But the en banc court reinstated the
CFPB Director Richard Cordray to Step Down
In an email to staff, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray announced on Wednesday, November 15, that he will be stepping down this month. His departure was widely anticipated. Because the CFPB is headed by a single director – as opposed to a 5-member commission – the agency’s director wields enormous power. Below we address some of the most frequently asked questions regarding Director Cordray’s resignation.
Continue Reading CFPB Director Richard Cordray to Step Down
Another CFPB Appeal is Heading to the D.C. Circuit
The Consumer Financial Protection Bureau (CFPB) has teed up another D.C. Circuit battle regarding the scope of its authority. On Monday, June 13, the CFPB filed a notice of appeal of the district court’s decision to dismiss the CFPB’s petition to enforce a Civil Investigative Demand (CID) issued to the Accrediting Council for Independent Colleges…