October 28, 2019
Partner Lucy Morris comments for Bloomberg Law on Supreme Court review of CFPB constitutionality
On October 28, Hudson Cook Partner Lucy Morris commented for Bloomberg Law on whether the Consumer Financial Protection Bureau (CFPB) could lose its leverage in enforcement cases as the Supreme Court considers whether its structure is unconstitutional.
According to Bloomberg, ongoing litigation has already been affected as both federal and district courts have put stays on the Bureau's enforcement litigation, or closed cases completely. More financial companies are also likely to challenge civil investigative demands in court, or enter into settlement negotiations with the Bureau.
Companies could be tougher than normal in negotiations with the bureau, said Lucy, who is a former deputy CFPB enforcement director. "I would imagine the bureau would want to settle cases rather than putting everything on hold or go to litigation," she said.
Lucy is a partner in Hudson Cook's Washington, D.C. office and chairs the firm's Government Investigations, Examinations and Enforcement practice group. Lucy counsels financial institutions and others in complying with federal consumer financial laws and prohibitions against unfair, deceptive or abusive trade practices. She is an experienced advocate and litigator, representing clients in government investigations, examinations, and enforcement actions before federal and state agencies, including the Consumer Financial Protection Bureau, Federal Trade Commission, U.S. Department of Justice and state AG offices. Lucy was a panelist at the June CFPB symposium on Abusive Acts or Practices. A video of the symposium can be viewed on the CFPB website.
Click here to read the story (may require subscription).