By Katie Buehler (May 9, 2022, 6:48 p.m. EDT) — A Fifth Circuit panel asked Monday whether recent U.S. Supreme Court rulings require the Consumer Financial Protection Bureau to restart the process of regulating payday loans, as two business groups fight to resuscitate their legal challenge to the rules.
The Community Financial Services Association of America Ltd. and the Consumer Service Alliance of Texas told the three-judge panel during oral argument that a judge in the Western District of Texas erroneously ruled that the CFPB’s small-dollar loan regulations were valid after the agency ratified the rules, which were enacted while the agency was operating under an unconstitutional provision that barred the president from removing the…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!
