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Appeals court ruling casts doubt on Cordray appointment, CFPB activities
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Consumer Protection, Dodd-Frank Basics
Monday, January 28, 2013
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A federal appellate court ruling that invalidated President Barack Obama’s 2012 recess appointment of three members of the National Labor Relations Board doesn’t mention the Consumer Financial Protection Bureau or its director; however, Washington watchers say the decision has potential implications for the CFPB, its leader and industry participants within the bureau’s supervisory and regulatory ambit.
Dodd Frank Update spoke with two top attorneys to get their take on the ruling and its potential impact. Read on to learn why the ruling could raise questions about the CFPB’s rulemaking and other authorities, and what the attorneys we talked to had to say regarding how industry participants should view the ruling from a compliance standpoint.
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