Now the CFPB’s Structure is Ruled UNconstitutional. What Happens Next?

In spite of the recognition of the en banc decision by the Court of Appeals for the District of Columbia in the case of PHH Corp. v. CFPB, which upheld the constitutionality of the structure of the CFPB, the U.S. District Court for the Southern District of New York has declared the CFPB's structure UNconstitutional (emphasis added).

The case in question is CFPB and NY Attorney General v. RD Legal Funding, LLC, et al. You can download the 108-page decision here.

The CFPB and NYAG have accused RD Legal Funding (RD) of scamming consumers who accept cash advances while waiting for payouts from settlement agreements or judgments in their favor. The Government alleges that RD misled consumers into accepting what were actually usurious loans not allowed under state law.

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