CFPB Ruling Could Impact Bureau Leadership Structure

NY Ruling Could Fuel Push To Turn CFPB Into Commission
– Law360

Manatt’s Richard Gottlieb, co-chair of the firm’s financial services group, was interviewed by Law360 for an article on how a New York federal judge’s ruling on the Consumer Financial Protection Bureau could impact the agency’s leadership.

The publication noted that a judge’s recent ruling that the bureau is structured unconstitutionally could strengthen the hand of those who want to convert the agency’s structure to a bipartisan leadership commission.

Gottlieb explained that Republicans may now be less inclined to follow through with the commission idea, even if Thursday’s ruling leads to an increase in support for it among those traditionally opposed.

“The party in control is now in a position to use the ample powers of the director to undo some of the worst overreaches by the bureau,” he said.

manatt-black

ATTORNEY ADVERTISING

pursuant to New York DR 2-101(f)

© 2020 Manatt, Phelps & Phillips, LLP.

All rights reserved