Supreme Court to Rule on CFPB’s Constitutionality


There is a lot of noise surrounding the Supreme Court’s announcement Monday that the Consumer Financial Protection Bureau’s (CFPB) constitutionality will be addressed during the Court’s next term. An appellate court ruled in October that the CFPB’s current funding structure violates the Constitution’s separation of powers doctrine. Should the Supreme Court agree, questions regarding the validity of the CFPB’s regulations and past actions will require answers and could greatly impact our industry and other federal agencies.

Regardless of the outcome, NCBA members are attorneys who represent the highest level of ethics and professionalism in consumer finance. Our legal area of practice is among the most regulated and scrutinized in the financial industry, which means how we communicate and interact with consumers is precisely defined and will continue to be part of the very fabric of consumer protections.  

NCBA is not sitting on the sidelines. We advocate daily, both publicly and behind the scenes, for the independence of the practice of law. We believe it is of fundamental importance to keep attorney oversight separate and independent from the other branches of the government; including federal or state agencies, Congress, and state legislatures. By being part of the conversations with elected officials, their staff, regulators, and courts, NCBA uses its seat at the table to be the voice of the legal creditors rights industry. 

We'll send out updates on this case as they become available, but, in the meantime, feel free to reach out to [email protected] with any questions.