Bloomberg Law spoke to Eric Goldberg, who served as a CFPB managing counsel prior to joining Akerman, about the U.S. Supreme Court’s review of the constitutionality of the CFPB, and how that may impact the agency’s enforcement. The Supreme Court is considering oral arguments to a challenge of the CFPB’s single-director structure. Federal judges have already put stays on the Bureau’s enforcement litigation, citing a pending Supreme Court decision in Seila Law LLC v. Consumer Financial Protection Bureau, which has not been scheduled for oral arguments yet.
Goldberg elaborated, “The CFPB is likely going to try to settle things to avoid court. There could be a discount on a settlement given that they want to avoid court in the short run.”