Supreme Court rules CFPB structure unconstitutional; RLG corporate attorney Shruti Gurudanti comments

By Mike Albanese | DS News The Supreme Court ruled Monday that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional, but it can keep operating under new rules. “The CFPB’s single-Director configuration is also incompatible with the structure of the Constitution, which—with the sole exception of the Presidency—scrupulously avoids concentrating power in the hands of any single …

U.S. agency moves to allow class-action lawsuits against financial firms; Class actions necessary to protect consumers says Kathryn Honecker, Chair of Rose Law Group Class Action Dept

By Jessica Silver-Greenberg and Michael Corkery | The New York Times The nation’s consumer watchdog is adopting a rule on Monday that would pry open the courtroom doors for millions of Americans, restoring their right to bring class-action lawsuits against financial firms. Under the Consumer Financial Protection Bureau rule, banks and credit card companies could no longer force customers into arbitration …