Court of Appeals Says CFPB Is Unconstitutional; Rejects Agency Effort to Apply New Interpretation of Law Retroactively

October 14, 2016

The courts are now reacting to what some view as regulatory overreach flowing from U.S. laws enacted in the wake of the financial crisis. The most recent example is the October 11, 2016 decision of the U.S. Court of Appeals for the D.C. Circuit in PHH Corporation v. CFPB, which may have implications for the constitutionality of single-headed independent agencies that exceed their authorities and which may impact the determinations of other such agencies.

Read "Court of Appeals Says CFPB Is Unconstitutional; Rejects Agency Effort to Apply New Interpretation of Law Retroactively."