Banking Law News

CFPB May Not Get Supreme Court Closure It Wants (1)

Oct. 4, 2019, 6:11 PMUpdated: Oct. 4, 2019, 8:58 PM

The Consumer Financial Protection Bureau may have picked the wrong case for the Supreme Court to have the final say on whether its single-director leadership structure violates the Constitution.

That’s the argument that All American Check Cashing makes in urging the high court to consider its constitutionality challenge to the CFPB—still pending in the U.S. Court of Appeals for the Fifth Circuit—rather than the one that a California debt collection law firm recently lost in the U.S. Court of Appeals for the Ninth Circuit.

The challenge from the Ridgeland, Miss.-based check cashing service and payday lender is a better vehicle...

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