Appeals Court Archives - Americans for Financial Reform

Amicus Brief: Chamber of Commerce v. CFPB Amicus Brief filed

Americans for Financial Reform recently joined several consumer protection organizations in an amicus brief in Chamber of Commerce v. CFPB, which was filed by Democracy Forward in the 5th Circuit in August 2024. This brief supports the CFPB’s 2022 clarification in its Supervision and Examination Manual that “discriminatory acts or practices” in the provision of financial services may be “unfair” under the Dodd-Frank Act. The brief asks the 5th Circuit to reverse the judgment of the district court, and hold that the CFPB has statutory authority to consider discriminatory conduct an “unfair” practice.

Amicus Brief: State of Iowa v. Securities and Exchange Commission on Climate Risk Disclosure Rule

Americans for Financial Reform Education Fund filed an amicus brief in the 8th Circuit. View or download a PDF of the brief here. Americans for Financial Reform Education Fund joined Environmental Defense Fund, Natural Resources Defense Council, Sierra Club, and Sierra Club Foundation in an

News Release: Second Circuit Court Affirms CFPB Constitutionality

The Second Circuit Court of Appeals today unanimously declared the funding structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, rejecting the Fifth Circuit Court’s ruling in CFPB v. CFSA and writing that it “cannot find any support” for the Fifth Circuit’s ruling in Supreme Court precedent.

News Release: 5th Circuit Court of Appeal’s Decision on CFPB Funding is an Outrageous Undermining of Consumers’ Rights

On Wednesday, October 19, 2022, a three-judge panel in the 5th U.S. Circuit Court of Appeals agreed with the payday lenders trade association in ruling that the CFPB’s funding structure is unconstitutional because it does not go through Congressional appropriations. This line of attack toward the CFPB – via its funding – has nothing to do with actually caring about the constitution and everything to do with the big banks and predatory lenders trying to escape the oversight and enforcement actions of an agency focusing on protecting and defending consumers.

AFR Statement: Appeals Court Decision Knocks Out Longstanding Argument Against CFPB Single Director

Charging that the single director structure — which helps make the bureau an effective consumer regulator, if that director is committed to the public interest — was unconstitutional evolved into a mainstay of attacks from Wall Street, predatory lenders, and their friends in Congress and the administration.