In the American Banker. The oral argument will take place on April 9 before Judge Pillard, an Obama appointee and two Trump appointees: Judges Katsas and Rao.
Author Archives: Jeff Sovern
Some remarkable statements in the opinion (this is all I have time for now):. Judge Jackson wrote of the CFPB’s employee testifying for the agency: “He had the demeanor of an abused wife brought to court by her husband to drop the charges.” “The testimony and the contemporaneous documents suggest that those last minute communications […]
So reports Law360s’s Bryan Koenig. The complaint alleges violations of the FTC Act, Administrative Procedure Act, among other theories, and seeks mandamus and an injunction.
Here. Oral openers by the industry witnesses call for the CFPB to become a bipartisan commission without noting that Trump has fired the Democratic FTC commissioners, so that bipartisan really means one party. Meanwhile, former CFPB General Counsel Seth Frotman’s oral opening statement was terrific. His written testimony is here. Here’s an excerpt (footnotes omitted): […]
Stephen Calkins of Wayne State writes: The FTC is down to two commissioners. Both of them recused themselves for unstated reasons when the agency filed an administrative complaint, In re Caremark Rx, Dkt. 9437. THERE IS CURRENTLY PENDING BEFORE THE COMMISSION –NOT THE ALJ – A MOTION TO POSTPONE THE TRIAL DATE (currently the end […]
Stephen Calkins of Wayne State, who formerly served as FTC General Counsel, has pointed out that when the FTC has only two commissioners, two is a quorum for FTC action under the regs: 4.14 Conduct of business. (a) Matters before the Commission for consideration may be resolved either at a meeting under § […]
Reuters reports the story here. The Supreme Court has ruled that presidents can’t fire FTC commissioners, but the Trump administration is challenging the ruling. If the Supreme Court overturns the precedent and upholds the firing, it will be interesting to see what happens the next time the Democrats take the presidency. The firings undermine Republican […]
In a recent Hill op-ed, We don’t need the Consumer Financial Protection Bureau — we have courts, Vanderbilt Professor Brian T. Fitzpatrick writes: Many are asking: If the CFPB goes out of business, who will be there to help consumers? The answer is one million lawyers. CFPB has been around for less than 15 years. Consumers […]
I get that the Trump administration’s flood the zone strategy means a lot of things are newsworthy right now. But I’m still surprised and disappointed at how few op-eds (or guest essays if you prefer) and editorials I’m seeing that support the CFPB. While print publications have significant limits on what they can publish because […]