Supreme Court Refuses to Hear CFPB Constitutionality Case
As reported in The Hill on January 14, 2019, the Supreme Court refused to hear a case involving the challenge to the constitutionality of the Consumer Financial Protection Bureau (CFPB). The State National Bank of Big Spring, the Competitive Enterprise Institute and the 60 Plus Association had asked the Supreme Court to review the U.S. Court of Appeals decision to dismiss their challenge to the constitutionality of the CFPB’s structure as an “independent” agency. The Competitive Enterprise Institute responded to the Supreme Court’s decision by stating that there are other pending lawsuits that raise similar issues and hopes the Supreme Court has another opportunity to review them. Perhaps then this issue is not totally put to rest just yet. 5;\lsd
CLA’s financial institution regulatory compliance team assists banks and credit unions nationwide in establishing regulatory compliance programs, conducting compliance testing, and training staff on regulations. Justin Robinson is a member of CLA’s regulatory compliance team and can be reached at justin.robinson@CLAconnect.com.
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