John Coleman, left, is a partner at Orrick Herrington & Sutcliffe. Michael S. Chu, right, is a managing associate at the firm. Courtesy photos CFPB Enforcement Stalls Following 5th Circuit Decision
The CFPB said months ago that its agenda would bog down if the Supreme Court refused to expedite review of the Fifth Circuit's holding that the bureau's funding structure was unconstitutional. In declining expedited review, SCOTUS effectively ensured that the CFPB's ability to enforce legally binding obligation would almost grind to a halt.
May 04, 2023 at 10:57 AM
7 minute read
Commentary
The Consumer Financial Protection Bureau's prediction about the impact of constitutional litigation on its enforcement program has proved accurate, leaving it to look for other options to pursue its agenda.
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