2nd Circuit Court of Appeals Rules CFPB Funding Constitutional

After the U.S. Court of Appeals for the Second Circuit ruled the CFPB's funding mechanism was constitutional - the opposite of an October 2022 ruling by the U.S. Court of Appeals for the Fifth Circuit - a reporter from Auto Finance News spoke to Michael Gordon about what this means for the ongoing question over the agency's fate.

"It's not uncommon for different circuits to take different positions on the same legal issue," he said, later adding that the Second Circuit ruling, "just provides another data point out there with some logic and reasoning as to why the Fifth Circuit may have gotten it wrong."

Mr. Gordon is a member of Ballard Spahr's Consumer Financial Services and CFPB teams.

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