State Attorney General Letitia James is leading a 24-state coalition that has filed an amicus brief to the U.S. Supreme Court arguing for preserving the Consumer Financial Protection Bureau’s existence and, perhaps as importantly, argues the coalition, keeping in place state powers under the Dodd-Frank Act even if the protection bureau is found to be unconstitutional.
In a 33-page amicus brief lodged with the Supreme Court and signed by James and state Solicitor General Barbara Underwood, the states coalition weighs in on a years-long legal fight that is pending at the high court: Seila Law, a California law firm facing an investigation by the protection bureau, has argued that the bureau itself is unconstitutional, as created and structured under the Dodd-Frank Act, because the for-cause-only termination of its director violates the Constitution’s separation of powers clause while also impinging on the U.S. president’s executive power, according to James’ news release about the amicus filing and court documents.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]