House Dems Seek to Uphold CFPB Directorship as Constitutional

Oct 09, 2019

The Democratic Party leadership of the House of Representatives has filed an amicus brief asking the U.S. Supreme Court to reject a challenge to the constitutionality of the Consumer Financial Protection Bureau (CFPB).

The House leadership’s action follows an effort by the California debt relief firm Seila Law, which filed a petition asking the Supreme Court to decide whether the CFPB’s single-director structure is constitutional. Seila lost its case before the 9th Circuit Court, but on Sept. 17 the CFPB and the Department of Justice joined its cause by asking the high court justices to review Seila Law’s filing.

The Supreme Court, which began its new term on Monday, had not added the Seila case to its docket. While the Department of Justice and CFPB Director Kathleen Kraninger have supported Seila Law, House Speaker Nancy Pelosi (D-CA) spoke out against this legal challenge.

“By not defending the Consumer Bureau’s independence, the Trump Administration is choosing special interests over America’s consumers,” said Pelosi in a statement.

Also voicing disapproval was Rep. Maxine Waters (D-CA), chairwoman of the House Financial Services Committee.

“Despite previous court rulings that made it clear that the Consumer Bureau is constitutional and here to stay, Kathy Kraninger insists on working to undermine and politicize the agency at the expense of hardworking Americans,” said Waters. “This is yet another example of a Trump Administration appointee working to undermine the mission of the agency they were appointed to lead.”

About the author

Phil Hall

Link copied

Published

Oct 09, 2019

Non-QM

ResiCentral Expands Non-QM Lending With 90% LTV, 55% DTI Options

New Advantage program offers more flexibility for borrowers with past credit events, self-employed buyers using bank statements, and real estate investors

ResiCentral is expanding its Non-QM lending options with a new program offering up to 90% loan-to-value (LTV) financing, debt-to-income (DTI) ratios as high as 55%, and more accommodating guidelines for borrowers with past credit events.The wholesale and non-delegated corres...

Analysis and Data

Redfin: Homebuyers Gain Leverage, But Pending Sales Keep Sliding

Pending sales fall 16.4% from a year ago despite lower home prices and mortgage payments, as sellers retreat from a weakening market

Home prices are falling. Mortgage payments are easing. Sellers are becoming more willing to negotiate. Yet the housing market keeps losing buyers.Pending home sales fell 16.4% year over year during the four weeks ending Nov. 1, reaching their lowest level in Redfin's weekly ...

Feb

Austin, TX

More from

Regulation and Compliance

CFPB Closes 40% Of Investigations, Keeps Mortgage Enforcement In Focus

The federal watchdog closed thousands of supervisory and investigative matters as it narrowed oversight

Regulation and Compliance

Nov 05, 2026

Midterms Loom With Mortgage Policy Changes Already In Motion

As voters head to the polls Tuesday, Washington is weighing changes to refinancing costs, loan pricing, and lending regulations

Regulation and Compliance

Nov 02, 2026

UAD 3.6 Deadline Is Monday. Are Brokers Ready?

Wholesale lenders have adopted different rules for appraisal transfers, loan product changes, and reporting formats, adding complications for brokers and appraisers ahead of the Nov. 2 mandate

Regulation and Compliance

Oct 27, 2026

Friday Harbor Expands AI Appraisal Reviews As UAD 3.6 Deadline Nears

The new capability adds more than 350 automated checks as lenders prepare for the November 2 mandate

Tech

Oct 27, 2026

The Hidden Cost Of Appraisal Uncertainty

As home equity lending grows, lenders need a better way to resolve conflicting property evidence before it creates costly setbacks

Regulation and Compliance

Oct 25, 2026