Consumer Financial Protection Bureau v. RD Legal Funding, LLC
Consumer Financial Protection Bureau v. RD Legal Funding, LLC, 332 F. Supp. 3d 729 (S.D.N.Y. 2018), was a lawsuit by the Consumer Financial Protection Bureau (CFPB) and the Attorney General of New York against Defendants RD Legal Funding, LLC, RD Legal Finance, LLC, RD Legal Funding Partners, LP and Roni Dersovitz, the founder and owner of the RD Entities. On June 21, 2018, Senior U.S. District Judge Loretta Preska posited that Title X of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which established the CFPB as an independent bureau within the Federal Reserve System, was unconstitutional.[1] This holding is in contrast with the en banc holding of the United States Court of Appeals for the District of Columbia Circuit in PHH Corp. v. Consumer Financial Protection Bureau,[2] and partially adopts the separate dissents of Judge Brett Kavanaugh and Judge Karen L. Henderson in that case.
| Consumer Financial Protection Bureau v. RD Legal Funding LLC | |
|---|---|
 | |
| United States District Court for the Southern District of New York | |
| Full case name | Consumer Financial Protection Bureau and the People of the State of New York, by Eric T. Schneiderman, Attorney General for the State of New York, Plaintiffs v. RD Legal Funding, LLC; RD Legal Funding Partners, LP; and Roni Dersovitz, Defendants |
| Date decided | June 21, 2018 |
| Docket nos. | 1:17-cv-00890 |
| Citations | 332 F. Supp. 3d 729 |
| Judge sitting | Loretta A. Preska |
The Consumer Financial Protection Bureau filed an appeal with the United States Court of Appeals for the Second Circuit on September 14, 2018.[3]
References
- Consumer Financial Protection Bureau v. RD Legal Funding, LLC, 332 F. Supp. 3d 729 (S.D.N.Y. 2018).
- PHH Corp. v. Consumer Financial Protection Bureau, 881 F.3d 75 (D.C. Cir. 2018).
- https://www.natlawreview.com/article/cfpb-files-appeal-second-circuit-rd-legal-funding-case National Law Review, September 14, 2018
External links
- Text of Consumer Financial Protection Bureau v. RD Legal Funding, LLC, 332 F. Supp. 3d 729 (S.D.N.Y. 2018) is available from: Google Scholar S.D.N.Y. (slip opinion)