White Paper

4 Pages
  • 4 Pages

CFPB Defends Its Constitutionality to Ninth Circuit Panel


Will Kraninger Have a Change of Heart?

There are three cases awaiting outcomes in circuit courts that are questioning the Consumer Financial Protection Bureau’s constitutionality. These cases have caused speculation as to whether the CFPB will maintain its defense of its constitutionality under Director Kraninger’s leadership.  This white paper reviews these cases and what could happen if Director Kraninger has a change of heart.



Alan Kaplinsky

Ballard Spahr LLP

Alan S. Kaplinsky is a senior partner and chair of the Consumer Financial Services Group at Ballard Spahr Andrews and Ingersoll, LLP. He devotes his practice exclusively to counseling financial services providers on regulatory and transactional matters, particularly consumer financial services law issues, and to defending all types of prime and subprime lenders, including mortgage lenders, credit card issuers, payday loan companies, title loan companies and lenders offering tax refund anticipation loans that have been sued by consumers and governmental enforcement agencies in individual and class action lawsuits. Mr. Kaplinsky was the first president of the American College of Consumer Financial Services Lawyers, an organization founded in order to honor those lawyers who have made substantial contributions to the development of consumer financial services law. He was recently selected as a banking lawyer in the 2006 to 2007 edition of Chambers USA: America's Leading Lawyers for Business, a directory of America's leading lawyers. He was also recently named in the Best Lawyers in America under banking law. He was named Top Banking Lawyer in Philadelphia by Philadelphia magazine on two occasions based on a random survey of 4,500 Philadelphia lawyers. Mr. Kaplinsky has been honored in 2004, 2005 and 2006 by Law and Politics magazine and Philadelphia magazine as a Pennsylvania Super Lawyer in the area of banking law. He was elected in May 2006 to the American Law Institute Association. Mr. Kaplinsky pioneered the use of pre-Dispute arbitration provisions in consumer contracts, has counseled numerous consumer financial services companies with respect to this subject and has defended numerous companies who have sought to enforce consumer arbitration agreements. Mr. Kaplinsky is a graduate of the University of Pennsylvania, Wharton School of Business (B.S. Degree, cum laude) and Boston College Law School (J.D. Degree, cum laude) where he was a member of the Order of the Coif and served as editor of the Boston College Industrial and Commercial Law Review. He can be reached at 215-864-8544 or at [email protected].

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