The U.S. District Court for the Eastern District of Texas held that the CFPB's amendments to its supervisory operations and examinations manual to include “discrimination” under “unfair, deceptive, or abusive acts or practices” exceeds the agency's authority under Dodd-Frank.
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The Supreme Court will review a Fifth Circuit ruling that the CFPB "funding mechanism" violates the Constitution's separation of powers clause.
The U.S. Supreme Court held that (i) the President of the United States can remove the Federal Housing Finance Agency director for any reason and (ii) the FHFA can continue to collect profits from Fannie Mae and Freddie Mac, for which it has served as a conservator since the 2008 financial crisis.
In PayPal, Inc. v. Consumer Financial Protection Bureau, et al., the U.S. District Court for the District of Columbia vacated the CFPB's short-form disclosure requirement and thirty-day credit linking restriction.
A U.S. District Court denied the assertion by a national bank that a state law requiring the bank to pay interest on certain property-related escrow accounts was preempted by the National Bank Act and OCC regulations.