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Fifth Circuit Ruling Chills Consumer Financial Protection
Profile photo of contributor Rachel  Rodman
Partner | Consumer Financial Services Enforcement and Litigation
Profile photo of contributor Keith M. Gerver
Associate | White Collar Defense and Investigations
Profile photo of contributor Ken Bergman
Associate | Global Litigation

In Community Financial Services Association of America v. CFPB, a three-judge panel for the U.S. Court of Appeals for the Fifth Circuit became the first federal court to find that the Consumer Financial Protection Bureau’s funding structure is unconstitutional.

This ruling threatens to undo many, if not all, of the bureau’s past actions, and may make it impossible to perform its responsibilities under the Consumer Financial Protection Act. It also raises the possibility of future litigation against similarly funded agencies.

You can read our Bloomberg Law article here.

October 27, 2022
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