Tag Archives: CFPB

Judge Preska Declares Consumer Finance Protection Bureau Unconstitutional

In an opinion today, Judge Preska dismissed the Consumer Finance Protection Bureau (“CFPB”) from an action after finding that, because the CFPB’s structure was unconstitutional, it lacked the authority to bring claims under the Consumer Finance Protection Act (“CFPA”). The CFPB and the New York Attorney General had originally brought claims against companies that offered cash advances … Continue Reading

Judge Failla: CFPB Anti-Retaliation Protections Do Not Cover Complaints About CMBS

In an opinion yesterday, Judge Failla largely denied UBS’s motion to dismiss a lawsuit brought by a plaintiff who claims he was fired, in violation of anti-retaliation laws, for complaining about UBS’s practices relating to commercial mortgage-backed securities (CMBS). Judge Failla did dismiss, however, the plaintiffs’ claims under the Consumer Financial Protection Act.  This portion … Continue Reading
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