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Court Ruling Likely to Increase CFPB Accountability

Experts sort through what the future looks like for the CFPB.

By David Baumann | Updated on October 13, 2016

Although the impact of this week’s appeals court ruling that found the CFPB’s structure to be unconstitutional are still being assessed, attorneys said agency officials are likely to be looking over their shoulders as they write rules affecting the financial services industry. 

First, unless the agency petitions for a rehearing or attempts to take the case to the U.S. Supreme Court, the CFPB is likely to be required to submit all proposed rules to the Office of Management and Budget for its review, according to Alan Kaplinsky, chair of the Consumer Financial Services Group at Ballard Spahr.

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David Baumann

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