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The Fintech Report

Legal Issues Affecting Innovative Fintech Companies

Christopher Parker

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Court Rules That Consumer Financial Protection Bureau Is Unconstitutional

By Christopher Parker on June 29, 2018
Posted in Consumer Finance

Summary of SDNY order holding that CFPB is unconstitutional

CFPB v. RD Legal Funding, LLC, 17-cv-890 (June 21, 2018, S.D.N.Y.)

Last week, a federal court in New York ruled that the entire Consumer Financial Protection Bureau (“CFPB”) is unconstitutional. The CFPB was established by Congress in response to the 2007-2008 financial crisis to regulate…

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