April 29, 2016

Andy Arculin quoted in American Banker article "Constitutional Challenge Could Be 'Very Messy' for the CFPB"

1 min

Venable counsel Andy Arculin was quoted in an April 29, 2016 American Banker article on how a federal appeals court case is challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB).

"The question is what would be the unintended consequences of ruling in a certain way," Arculin said. "The agency was meant to be set up as an independent agency and when various stakeholders engage the bureau and meet with Director Cordray today, there's a sense that he's the decision maker. If there were back channels through Congress or the White House, that could be used to circumvent the director or undermine that independence, it could change the way people lobby them."