On October 3, 2023, the Supreme Court is scheduled to engage in an oral argument to assess the Fifth Circuit’s ruling in the case of Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA). The central issue under scrutiny pertains to the constitutionality of the Bureau’s funding. This legal matter has cast a shadow of uncertainty over the CFPB, prompting some lower federal courts to temporarily halt litigations until a decision is reached by the U.S. Supreme Court.

Appellate litigator Daniel Randolph and former FTC Bureau Director Andrew Smith from Covington & Burling, LLP, will come together to offer their perspectives on the oral argument and make predictions about the probable timing and outcome of the case. Their discussion will encompass the potential repercussions of a Supreme Court ruling that deems the CFPB’s funding structure unconstitutional. They will delve into the potential implications for the Bureau itself, examine the effects on the CFPB’s past actions, ongoing operations, and forthcoming enforcement and rulemaking actions. Additionally, they will explore the possible courses of action that Congress might take in response to the Supreme Court’s decision.

This event will also feature an interactive Q&A session, moderated by Dan Smith, President and CEO of CDIA. It presents an invaluable opportunity to gain insights and engage in discussions surrounding this significant legal and regulatory juncture.