June 30, 2020
Lucy Morris comments for Bloomberg Law on Seila v. CFPB decision
Today, Bloomberg Law analyzed possible outcomes of yesterday's Supreme Court's ruling on Seila Law LLC v. CFPB, a 5-4 decision determining that the Consumer Financial Protection Bureau's leadership structure is unconstitutional.
Hudson Cook Partner Lucy Morris, chair of the firm's Government Investigations, Examinations and Enforcement practice group and a former CFPB deputy enforcement director, noted that if the CFPB's current Trump-appointed director, Kathleen Kraninger, does not move swiftly to ratify past decisions - including enforcement actions, civil investigative demands and regulations - companies could run to court to overturn them on the grounds that the CFPB was unconstitutional at the time the decisions were made.
"Past actions, and more importantly pending actions, are in doubt," said Lucy.
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