How The Circuit Split Over CFPB Funding May Play Out

Andrew Braunstein (New York) authored an article for Law360 discussing potential outcomes of the circuit split triggered by the unanimous ruling handed down by a three-judge panel of the U.S. Court of Appeals for the Second Circuit in Consumer Financial Protection Bureau v. Law Offices of Crystal Moroney, P.C., a decision contrary to the U.S. Court of Appeals for the Fifth Circuit's decision last year in Consumer Financial Protection Bureau v. Community Financial Services Association of America Ltd.

The authors note, “the most likely outcome might be the court finding a middle ground, agreeing with the Fifth Circuit's holding that the CFPB's funding structure is unconstitutional, but rejecting the Fifth Circuit's finding that the CFPB itself is unconstitutional.”

Read the full Law360 article here (subscription may be required).