Second Circuit sends CFPB ratification issue back to district court in RD Legal Funding
By EsqSocial Corporation 03/11/20
Less than one month after hearing oral argument in RD Legal Funding, the U.S. Court of Appeals for the Second Circuit has issued a summary order affirming the district court’s holding that the Dodd-Frank Act’s single-director-removable-only-for-cause provision is unconstitutional, reversing its holding that the provision is not severable, and remanding the case to the district court “to consider in the first instance the validity of Director Kraninger’s ratification of this enforcement action.”...
By: Ballard Spahr LLP