After the controversial decision that declared the Consumer Financial Protection Bureau’s (CFPB) single-director structure “unconstitutional,” the authors of the legislation that created the bureau and a group of consumer rights advocates have something to say about the matter.
- The authors of the legislation that created the CFPB and a group of consumer rights advocates filed two "friends of the court" briefings about the PHH/CFPB court battle.
- On Oct. 11, a three-judge appeals court panel ruled in the case that the CFPB’s concentration of executive power in director Richard Cordray is unconstitutional.
- The CFPB has asked all 11 appeals court justices to weigh in on the matter.
- PHH and the Solicitor General must file responses to this request by Dec. 22.
- The two "friends of the court" briefings were filed without invitation and support the CFPB's current structure.
Let's make 2018 your breakout year!
Join real estate's best to unlock growth at Connect SF, July 17-20, 2018