Takeaways From Dismissed Challenge To Trump's CFPB Pick
Partner Stephen Piepgrass and Associate Robert Claiborne are published in Law360 for their byline, “Takeaways From Dismissed Challenge To Trump's CFPB Pick.” The pair discuss a New York district judge’s recent dismissal of a credit union’s challenge to President Donald Trump’s selection of Mick Mulvaney as acting director of the Consumer Financial Protection Bureau (“CFPB”) (Lower East Side People’s Federal Credit Union v. Trump). They write, “Apart from the high-profile nature of this particular decision, the administration’s argument has ramifications for regulated entities that wish to challenge the legitimacy of the CFPB’s actions (or those of any other regulatory body whose leadership is in flux). Given the administration’s position in Lower East Side, counsel in such cases should consider the quo warranto statute and related doctrines, such as the de facto officer doctrine, as well as any statutes and regulations addressing the effect of defects in the office on acts by an officeholder. The administration’s briefing suggests that it may raise the quo warranto statute and the de facto officer doctrine alongside other challenges to standing.”