Members of the Federalist Society’s Financial Services & E-Commerce Practice Group Executive Committee provided an update on important activity at the Consumer Financial Protection Bureau (CFPB). Developments included the CFPB's adoption of a final policy on publishing consumer complaint narratives, a moratorium on credit card issuers submitting their credit card agreements to the CFPB, the Office of Management and Budget's threat of recommending the veto of a bill that would reduce the CFPB's budget by 0.1% over then next ten years, and the D.C. Circuit Court of Appeals decision to uphold the dismissal on procedural grounds in Morgan Drexen, Inc. v. CFPB, a suit challenging the constitutionality of the CFPB.
- Hon. Wayne A. Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association
- Julius L. Loeser, Of Counsel, Winston & Strawn LLP