Supreme Court Holds That CFPB’s Funding Is Constitutional, Clearing Way For Rulemaking Agenda

On May 16, 2024, the U.S. Supreme Court held 7-2 in Consumer Financial Protection Bureau v. Community Financial Services Association of America (CFSA) (Docket No. 22-448) that the CFPB’s funding structure is constitutional. With the Court’s decision, uncertainty over the CFPB’s rulemaking authority tied to the constitutionality of the CFPB’s funding has been removed, clearing the way for key rulemaking initiatives to proceed.

At issue in the case was the question of whether the CFPB’s funding structure, […]

By | May 28th, 2024 ||

Vladimir Myasnyankin v. Nationwide Mutual Insurance Company

In Myasnyankin v. Nationwide Mut. Ins. Co., 99 Cal.App.5th 283 (January 30, 2024), the California First District Court of Appeal affirmed the trial court’s entry of judgment in favor of Vladimir Myasnyankin with respect to a complaint seeking a declaration of Myasnyankin’s right to video record all other parties to an examination under oath required by Nationwide in connection with a property claim.

The parties’ dispute arose out of a claim for water damage sustained by […]

By | May 24th, 2024 ||

Challenging The CFPB After CFPB v. CFSA

On May 16, 2024, the United States Supreme Court issued its long-awaited opinion in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd., holding that the CFPB’s unique funding mechanism does not violate the Appropriations Clause of the Constitution. The 7-2 opinion resolves an important constitutional question and, for the moment, is a green light for the CFPB’s enforcement and regulatory activities. However, there remain opportunities to challenge widespread over-reach by the agency.
CFPB v. […]

By | May 23rd, 2024 ||