Topic
Regulatory Authority
33 published works
Inside Global Tech
Trump Administration Asserts Presidential Authority Over Independent Agencies
By Matthew DelNero, Yaron Dori, Jennifer Johnson
Yesterday, the Trump Administration issued an Executive Order titled “Ensuring Accountability for All Agencies” (the EO). The EO asserts Presidential authority over independent agencies, including the Federal Trade Commission (FTC),…
Consumer Financial Services Review
CFPB Issues Order Establishing Supervisory Authority Over Nonbanks
By Christa L. Bieker, Tori K. Shinohara, Joy Tsai
On February 23, 2024, the Consumer Financial Protection Bureau published an order establishing supervisory authority over a small-loan consumer finance company, using a Dodd-Frank Act provision that allows the Bureau…
Consumer Finance Monitor
House members urge CFPB to define “risk to consumers” in procedural rule on risk-based supervisory authority
A bi-partisan group of House members has sent a letter to CFPB Director Chopra to express concern about the CFPB’s rule setting forth its procedures for establishing supervisory authority over…
Consumer Finance Monitor
Rationale for Federal District Court issuing an injunction in addition to vacating changes to UDAAP Exam Manual
By John L. Culhane, Jr., Michael Gordon, Richard J. Andreano, Jr., Alan S. Kaplinsky
Yesterday, we blogged about the opinion issued on September 8 by the Federal District Court for the Eastern District of Texas in the lawsuit brought last year by several trade…
Retained Interest
CFPB Update—Constitutional Crisis or Business as Usual?
By Ori Lev, Christopher B. Leach, Christa L. Bieker
The Fifth Circuit recently ruled that the Consumer Financial Protection Bureau’s (CFPB) funding structure is unconstitutional, casting doubt on all of the agency’s actions. But the CFPB is as active…
Regulatory Oversight
Fifth Circuit Sides With AG Paxton, Finding the Horseracing Integrity and Safety Act Unconstitutional
By Troutman Pepper Locke State Attorneys General Team
Enacted in 2020, the Horseracing Integrity and Safety Act (HISA) nationalized the regulation of the horseracing industry. HISA delegates power to the Horseracing Integrity and Safety Authority (Authority) — a…
Regulatory Oversight
Fourteen State Attorneys General File Amicus Brief In Support of Lawsuit by U.S. Chamber of Commerce Against the CFPB
By Chris Willis, Clayton Friedman, Stefanie Jackman, Stephen C. Piepgrass, Ketan Bhirud, Chris Carlson, Abby Hylton
Yesterday, 14 Republican attorneys general (AGs) filed an amicus brief in support of a lawsuit brought by the U.S. Chamber of Commerce and other co-plaintiffs against the Consumer Financial Protection…
California Corporate & Securities Law Blog
DFPI Empowered To Stop Actions That Are Not Ongoing
"Eppure non si muove" In this July post, I noted that " if conduct is not ongoing, it is impossible for someone to discontinue or desist". The California legislature, however, sees…
The CLS Blue Sky Blog
Wachtell Lipton Discusses Important Supreme Court Business Cases
By John F. Savarese, Kevin S. Schwartz, Noah B. Yavitz, Adam L. Goodman
Last Thursday, the Supreme Court concluded its most tumultuous Term in recent memory. The Term was marked by a number of closely divided decisions on contentious issues ranging from President…
Antitrust Law Source
Has Axon dealt another blow to FTC authority?
By Jay L. Levine, Porter Wright
Last year, the Supreme Court unanimously ruled that the Federal Trade Commission (FTC) is not authorized to impose civil penalties on parties who violate the FTC Act unless the party…