June 30, 2020

Seila vs. CFPB analysis: Partner Lucy Morris comments for Law360

According to a June 29 Law360 article, although the Consumer Financial Protection Bureau (CFPB) has survived it's brush with the Supreme Court, the 5-4 decision in Seila Law LLC vs. CFPB rejecting the statutory restraint that Congress placed on the president's ability to remove the CFPB director could provide a springboard for future challenges to the independence of other federal agencies.

"The opinion seems to almost invite a challenge to the Federal Trade Commission or similar agencies," said Hudson Partner Lucy Morris. "If you look at the FTC in modern time, it's got a lot of authority that's similar to the CFPB's authority. I think the [Seila] opinion doesn't take away the FTC's authority, but it definitely raises a question about it."

Subscribers to Law360 may click here to read the article.

For further analysis of the decision, click here to register for Hudson Cook's webinar, "Seila Law and the Future of the CFPB."

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