The CFPB appears well poised to rebuff a challenge to its funding structure after the Supreme Court held oral argument on the issue on October 3. I attended the oral argument and summarized some of my observations, thoughts, and predictions here.
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On September 19, the CFPB published a recent decision and order denying the petition of one of the nation’s largest private student loan servicers to set aside the CFPB’s civil investigative demand (CID) in connection with its investigation into potential violations of the CFPA’s prohibition of unfair, deceptive, and abusive acts and practices for attempting to collect on loans that had been previously discharged in bankruptcy. The order instructs the servicer to “comply in full” with the requests for documents and information set forth in the Bureau’s June 2023 CID.
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