Pearson Quoted in Law360 on Key CFPB Supreme Court Petition

– Law360
Manatt Consumer Financial Services Leader Scott Pearson was quoted in Law360 about a petition for review of an important Fifth Circuit decision that could mean the end of the CFPB as currently structured.  
Pearson mentioned that the industry will be watching for a decision on the case, which found that the Bureau’s funding source violates the separation of powers and imperils the agency. The CFPB is hoping the case will be advanced faster than usual so the Court can rule before the current term ends in June. 
"Requests of this nature are very unusual, but this is the kind of unique circumstance where it could be allowed," Pearson said. "We're talking about a decision that could cripple a major government agency … and potentially impact everything that the agency has ever done, so I wouldn't be surprised to see expedited treatment granted." 


pursuant to New York DR 2-101(f)

© 2024 Manatt, Phelps & Phillips, LLP.

All rights reserved