Other courts could also determine that the CFPB’s withdrawn guidance can still be considered in legal matters, according to attorneys at the law firm of Holland & Knight.
The bureau urged the court to convert the bankruptcy case’s filing to allow the regulator to investigate whether Synapse Financial Technologies violated the CFPA, and provide redress to harmed consumers.
The Senate parliamentarian has advised Republicans that they cannot use the budget reconciliation process to eliminate the CFPB’s funding from the Federal Reserve.