The Fisher Memorial Program – Impact of the CFSA Case on the CFPBRead Time: 1 min
Will the Supreme Court Un-Ring a Bell?
In CFSA et al. v. CFPB, the Fifth Circuit ruled that the Consumer Financial Protection Bureau’s funding mechanism was unconstitutional as a violation of the Appropriations Clause and the Constitution’s structural separation of powers and vacated the Payday Lending Rule.
On Thursday, April 27, 2023, Member Jim Milano (Washington, DC) co-chaired a panel discussion on “The Fisher Memorial Program and the Impact of the CFSA Case on the CFPB” during the ABA Business Law Section Spring Meeting in Seattle, WA. The panel reviewed how the Supreme Court might decide the case, whether it is possible to distinguish the CFPB’s funding from that of other federal agencies, and what remedies the court might provide.
Watch the recording of the discussion here.