Troutman Pepper Partners Misha Tseytlin and Chris Willis were quoted in the March 2, 2023 S&P Global Market Intelligence article, “Supreme Court Delay Complicates CFPB’s Aggressive Agenda Push.”

More will follow suit and cite the Fifth Circuit ruling in their cases against the CFPB, said Chris Willis, co-leader of the financial services industry group at Troutman Pepper. This could slow the progress of the agency’s initiatives.

“How many courts are going to stay the actions until they hear from the Supreme Court?” Willis said. “And obviously, if you’re the CFPB, you hope courts are not going to stay the actions.”

Troutman Pepper Partner Misha Tseytlin said companies likely would win victories in the Fifth Circuit while the Supreme Court’s decision is up in the air.

“If your company is subject to a CFPB lawsuit, you should be raising this issue,” he said. “If you are in the Fifth Circuit, you will prevail.”

The CFPB is not expected to sit back idly. Willis noted that the Fifth Circuit ruling has not deterred the CFPB from moving forward with its initiatives, and the agency has been acting as if the case was not pending. “I don’t think the bureau is going to do anything different,” Willis said.