February 3, 2023

Volume XIII, Number 34

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January 31, 2023

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CFSAA v. CFPB: Unpacking the Fifth Circuit Decision That CFPB’s Funding Structure Violates the Constitution [VIDEO]

Last Wednesday, the United States Court of Appeals for the Fifth Circuit held that the CFPB’s automatic funding structure violates the Constitution. Because the decision calls into question virtually all of the CFPB’s actions since its creation, it has wide-ranging potential implications for all financial services industries. Please join us for a lunch-time webinar as we unpack the Fifth Circuit’s decision and what it means for your business. We plan to address these topics:

  • The history of the CFPB’s Payday Lending Rule and litigation filed by CFSAA

  • Expected next steps in the Fifth Circuit and potential Supreme Court petition for certiorari

  • Implications for small-dollar lenders, mortgage companies, banks, and other financial services industries

  • Other pending litigation challenging the CFPB’s funding structure

  • Implications for other independent regulatory agencies with self-funding structures, including the OCC, FDIC, and Federal Reserve

  • Compliance and enforcement challenges for both the CFPB and regulated industries

Webinar Recording

 

 

© 2023 Bradley Arant Boult Cummings LLPNational Law Review, Volume XII, Number 308
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About this Author

R. Aaron Chastain Financial Lawyer Bradley Law Firm
Partner

Aaron Chastain represents financial services institutions, healthcare companies, and other businesses in a broad range of litigation and compliance-related matters. Aaron has advised student loan and mortgage loan originators and servicers in complying with the complex universe of regulation and state lien laws, as well as in handling finance-related litigation, such as claims for violations of the Fair Debt Collection Practices Act (FDCPA), wrongful foreclosure, violations of the Truth in Lending Act (TILA), and violations of the Real Estate Settlement Procedures Act (RESPA). He has...

205.521.8771
Christopher Friedman Nashville Lawyer Bradley Arant Boult Cummings Law Firm
Associate

Chris Friedman is a regulatory compliance attorney and litigator who focuses on helping consumer finance companies and small business lenders, as well as banks, fintech companies, and other participants in the financial services industry, address the challenges of operating in a highly regulated sector. Chris focuses on both small business lenders and alternative business finance products and has helped non-bank small business lenders, banks who make small business loans, commercial credit counselors, lead generators, and others in the industry. He helps clients launch new products,...

615-252-3504
Jonathan Kolodziej Attorney Bradley Arant Boult Cummings Birmingham
Partner

Jonathan Kolodziej represents all types of consumer financial service providers in regulatory compliance, examination and enforcement matters. Through this work, he has assisted bank and non-bank mortgage servicers, mortgage originators, debt collectors, depository institutions, credit card issuers, small dollar lenders, reverse mortgage companies, investment firms, and various industry trade associations.

Jonathan’s regulatory compliance practice centers around helping clients ensure that their operations are in compliance with applicable...

205-521-8235
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