CFPB Gets Door Opened To 2nd Circ. Look At Constitutionality

Law360 (August 24, 2018, 8:25 PM EDT) -- A New York federal judge who previously ruled that the Consumer Financial Protection Bureau is unconstitutionally structured and must exit a lawsuit accusing a litigation funder of gouging NFL players and 9/11 responders has agreed to finalize her judgment against the agency, teeing up its expected appeal to the Second Circuit.

U.S. District Judge Loretta A. Preska booted the CFPB in June from a suit it brought with New York's attorney general against RD Legal Funding LLC and several associated entities, finding that the agency's single-director leadership structure violates the separation of powers under the U.S. Constitution and can't be fixed...

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