CFPB Predicts DC Circuit Ruling Won't Survive Challenge

Agency, in North Dakota case, says decision addressing director's power was "wrongly decided."

, The National Law Journal

   | 1 Comments

A lawsuit in North Dakota federal district court could provide an early test of the reach of a federal appeals court decision that confronted what the judges called the "massive, unchecked power" of the Consumer Financial Protection Bureau. Lawyers in the case are fighting over whether the D.C. Circuit's decision last week should carry any weight in an unrelated enforcement action.

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What's being said

  • Darren McKinney

    CFPB attorneys delude themselves if they really believe Judge Kavanaugh‘s majority decision will be reversed en banc or at the SCOTUS. Sen. Warren, Director Cordray and President Obama may see the Constitution as but a trifling impediment to absolute power. But CFPB lawyers will find that most federal judges -- even liberal judges recently packed onto the D.C. Circuit -- tend to hold the document in higher regard. So the CFPB ought to think very carefully before appealing Judge Kavanaugh, because the next decision may go even further (as many amicus briefs will urge), deeming the CFPB‘s funding by the Federal Reserve to be an unconstitutional affront to Congress‘s power of the purse, as well.

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