OCC files new district court decision applying valid when made doctrine and rejecting true lender challenge | Ballard Spahr LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
The court’s decision may impact other pending CFPB enforcement actions where ratification occurred outside the statute-of-limitations period. Editor’s note: This article is published with permission Mayer Brown.
Tracii Lynne Hutsona: Agreed Judgment And Notice
Case number 1166346 was filed in the Harris County Civil Court.
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Alexander Neblett: Original Petition Citation Issued
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Case number 1166794 was filed in the Harris County Civil Court.
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Case number 1166791 was filed in the Harris County Civil Court.
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ANALYSIS: CFPB suffers first court loss after Seila Law
Image by New Africa / Shutterstock.com Thursday, Apr. 08, 2021, 11:05 AM By Ori Lev and James Williams
Mayer Brown NEW YORK -
One of the great ironies of the Supreme Court’s decision in Seila Law versus CFPB, in which the Supreme Court held that the Consumer Financial Protection Bureau’s (CFPB) structure was unconstitutional, is that it effectively provided no relief to Seila Law, the party that took the case all the way to the Supreme Court.
On remand, the Ninth Circuit held that the CFPB’s case against Seila Law could continue. Now, for the first time, a court has held that a pending CFPB enforcement action must be dismissed because of that constitutional infirmity.
CFPB Suffers First Loss After Seila Law - Finance and Banking mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.