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Supporters of the state laws say they foster free speech, giving the public access to all points of view. One contrarian brief, from liberal professors, urged the justices to uphold the key provision of the Texas law despite the harm they said it would cause. “Social media platforms exercise editorial judgment that is inherently expressive,” Judge Kevin C. Newsom wrote for the panel. To the surprise of many, some prominent liberal professors filed a brief urging the justices to uphold a key provision of the Texas law. In the second case, Miami Herald v. Tornillo, the Supreme Court in 1974 struck down a Florida law that would have allowed politicians a “right to reply” to newspaper articles critical of them.

Persons: Samuel A, Alito Jr, ”, Scott Wilkens, Ron DeSantis, John Tully, Donald J, Trump, Greg Abbott of, —, Ken Paxton, “, Andrew S, Oldham, Kevin C, Newsom, Lawrence Lessig, Tim Wu of, Teachout, Mandel Ngan, Richard L, “ Florida’s, Moody, Paxton, Robins, William H, Rehnquist, Pat L, Tornillo, Warren E, Burger Organizations: Facebook, YouTube, Columbia University, Big Tech, The New York Times, Gov, Republican, Computer & Communications Industry, New York Times, Fox News, U.S ., Appeals, Fifth Circuit, ISIS, Harvard, Tim Wu of Columbia, Zephyr, Fordham, Twitter, Manchester Union, Citizens United, Agence France, University of California, Miami Herald, Florida, Representatives, Constitution Locations: Florida, Texas, Greg Abbott of Texas, Ukraine, Los Angeles, Campbell , Calif

☆ Appeals court will rehear challenge to Nasdaq board diversity rule, putting mandate at risk
▼ + stars: | 2024-02-20 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A federal appeals court agreed to rehear a challenge by two conservative groups to Nasdaq's board diversity rule related to the disclosure of women and minority membership on boards of companies listed on the stock exchange. The 5th Circuit U.S. Court of Appeals, in its order Monday night setting a rehearing, also vacated a decision in October upholding the Nasdaq rule by a three-judge panel from the appeals court, which encompasses Texas, Louisiana, and Mississippi. The Nasdaq rule requires companies to disclose details about the diversity of their boards of directors, and to either have a minimum number of women and minorities on their boards or explain why they do not. "NASDAQ's rule promotes racial discrimination and polarizing personal disclosures and it is to be hoped that this rule is struck down," Blum said. The SEC and Nasdaq did not immediately respond to requests for comment on the rehearing order.

Persons: Edward Blum, " Blum, Margaret Little Organizations: Times, NASDAQ, 5th Circuit U.S, of Appeals, Nasdaq, Securities, Exchange, Alliance for Fair, National Center for Public Policy Research, Fifth Circuit, SEC Locations: New York City, Texas, Louisiana, Mississippi

☆ The Texas Border War and the Battle Within the Supreme Court - The New York Times
▼ + stars: | 2024-02-04 | by ( Linda Greenhouse | ) www.nytimes.com time to read: +1 min

Most people know by now about the border war between Texas and the United States playing out along the banks of the Rio Grande. Less obvious, but no less consequential, is an emerging border war inside the Supreme Court. At the physical border are 29 miles of coiled razor wire on the United States side of the river, put in place by the Texas National Guard on orders from Gov. It has had the added and hardly unpredictable effect of barring access to the border by the federal Border Patrol agents. The state lost in Federal District Court on the grounds that the United States is immune from suits of this type.

Persons: Greg Abbott, Abbott Organizations: Texas National Guard, Gov, Republican, federal Border Patrol, Federal, Court, United States, Appeals, Fifth Circuit Locations: Texas, United States, Rio Grande

☆ Texas is exploiting a loophole in a new Supreme Court ruling to keep putting up razor-wire fencing at the border
▼ + stars: | 2024-01-24 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

Read previewTexas is apparently taking advantage of a loophole in a recent Supreme Court ruling involving the US-Mexico border in order to keep putting up more razor-wire fencing along the Rio Grande riverbank. "Texas' razor wire is an effective deterrent against the illegal border crossings encouraged by [President Joe] Biden's open border policies," Abbott said. AdvertisementTexas’ razor wire is an effective deterrent against the illegal border crossings encouraged by Biden’s open border policies. Republicans, like Texas Rep. Chip Roy, have urged the state to ignore the Supreme Court's ruling. Paxton said in a statement on Monday after the Supreme Court ruling that the order "allows Biden to continue his illegal effort to aid the foreign invasion of America."

Persons: —, Biden, Greg Abbott, Joe, Abbott, PE8wiMYaYI — Greg Abbott, Chip Roy, there's, Jonathan Meyer, Ken Paxton, Paxton Organizations: Service, Business, Republican, Texas, Texas National Guard, Fifth Circuit, US Justice Department, Border, Department of Homeland Security, Department Locations: Texas, Mexico, Rio Grande, @GregAbbott_TX, Eagle, Shelby, America

☆ Supreme Court Justices Roberts and Coney Barrett split with conservatives to give Biden a border win
▼ + stars: | 2024-01-22 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

The Supreme Court cleared the way for federal agents to cut through barbed wire that Texas put up along the southern border. It's a huge win for the Biden administration in its border fight with Texas. AdvertisementTwo of the Supreme Court's conservative justices just handed Joe Biden a major win at the southern border. The 5-4 ruling is a huge win for the Biden administration, with Justices John Roberts and Amy Coney Barrett splitting with the court's other conservatives and siding with liberal justices Elena Kagan, Sonia Sotomayor, and Ketanji Brown Jackson. The appeals court put that decision on hold while it reviewed the case, prompting the Biden administration to ask the Supreme Court to intervene.

Persons: John Roberts, Amy Coney Barrett, Biden, —, Joe Biden, Elena Kagan, Sonia Sotomayor, Ketanji Brown Jackson, Clarence Thomas, Samuel Alito, Neil Gorsuch, Brett Kavanaugh Organizations: Texas, Service, US Border Patrol, Fifth Circuit, US Justice Department, Texas National Guard, Justice Department Locations: Texas, Rio Grande, Mexico

☆ SpaceX is trying to take down the NLRB after a group of employees wrote an open letter denouncing Elon Musk's embarrassing behavior
▼ + stars: | 2024-01-14 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Elon Musk's SpaceX has filed suit against the NLRB, arguing its proceedings are unconstitutional. The suit follows an NLRB accusation that SpaceX illegally fired employees who complained about Musk. SpaceX's suit could have wide-reaching impacts on federal agencies if successful, an expert told BI. Eight SpaceX employees were wrongfully terminated for their involvement in drafting and posting the letter, the NLRB alleged in its complaint against the billionaire's spacecraft manufacturing company. AdvertisementThe NLRB, in response to SpaceX's suit, has argued the case should be heard in California.

Persons: Elon, —, Musk, Musk's, SpaceX's, David Wimmer, Jerry Cutler, Cutler, Wimmer, they've Organizations: SpaceX, Service, National Labor Relations Board, Court, Southern, Southern District of Texas, Musk ., NLRB, Business Insider, Elon, Twitter, SpaceX Microsoft, CBS, United States, Supreme, Circuit, Columbia University, National Labor Relations Act, Federalist Society Locations: Brownsville, Southern District, Texas, California

☆ U.S. Appeals Court Orders Texas to Remove Buoy Barrier in Rio Grande
▼ + stars: | 2023-12-01 | by ( Edgar Sandoval | More About Edgar Sandoval | ) www.nytimes.com time to read: +1 min

A federal appeals court on Friday ordered the state of Texas to remove a barrier of floating buoys in the Rio Grande installed at the direction of Gov. Greg Abbott to block migrants trying to cross from Mexico, delivering a blow to the state’s efforts to curtail unauthorized immigration. The decision came after months of legal wrangling between Governor Abbott’s office and the federal government. The previous judge had ordered the state to remove the barrier because it was an impediment to navigation on the river and a “threat to human life” for those trying to cross. The appeals court had issued an order temporarily keeping the buoys in place while the complex legal issues were resolved in court.

Persons: Greg Abbott, Abbott’s, Abbott, Biden, ” Organizations: U.S ., Appeals, Fifth Circuit, Constitution Locations: Texas, Rio, Mexico, New Orleans, U.S

☆ How 3 big Supreme Court cases could derail the government
▼ + stars: | 2023-11-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

On Wednesday, the Supreme Court is hearing a case challenging the authority of federal agencies. AdvertisementThree major Supreme Court cases could upend the way the government works — and put Americans' federal benefits and consumer protections at risk. These are the other big cases to follow on the Supreme Court's docket. AdvertisementChanging how the federal government is allowed to make regulationsAnother Supreme Court challenge has big implications for the way all federal agencies function. AdvertisementThe Supreme Court will likely issue final decisions on these cases by June.

Persons: —, George Jarkesy, Jarkesy, Sheila Bair, Loper, Raimondo Organizations: Service, SEC, Securities and Exchange Commission, Center, American Progress, Social Security, Social Security Administration, Financial, Community Financial Services Association of America Ltd, Federal, Fifth Circuit, Federal Deposit Insurance, Loper Bright Enterprises, National Marine Fisheries Locations: Chevron

☆ US Court Rejects EPA's Decision to Withhold Small Refinery Biofuel Waivers
▼ + stars: | 2023-11-22 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - A U.S. appeals court on Wednesday said it struck down the Biden administration's decision to deny small refiners "hardship waivers" that exempt them from nation's biofuel mandates, in a win for the refining industry. The U.S. Court of Appeals for the Fifth Circuit found in favor of refineries that challenged the EPA's decision, including Ergon, Calumet Shreveport and Placid. Under the Renewable Fuel Standard (RFS), oil refiners must blend billions of gallons of biofuels into the nation's fuel mix, or buy tradable credits from those that do. The EPA can, however, award exemptions to some small refiners if they prove that the obligations cause them undue harm. Refiners, meanwhile, have long argued that the nation's ethanol mandates impose unfair costs on fuel producers, and can threaten the viability of small plants.

Persons: Heather Timmons, Mrigank Dhaniwala Organizations: WASHINGTON, Biden, Environmental Protection Agency, U.S, Appeals, Fifth Circuit, EPA Locations: Ergon, Calumet Shreveport, Placid

The group usually has one active case against financial regulators, but currently has two against the Securities and Exchange Commission (SEC) and one against the Consumer Financial Protection Bureau (CFPB), he said. To be sure, the financial regulators have been sued many times during previous administrations, including by pro-reform advocacy groups. "There are some financial regulators that are walking right into it," he added. In September, for example, bank groups accused regulators including the Federal Reserve of violating the APA with a new capital rule. According to research by Wharton School professor David Zaring, neither industry groups nor individual lenders have filed more than one suit over the past decade challenging Fed policymaking.

Persons: Jim Bourg, Gibson, Dunn, Crutcher, Joe Biden's, Donald Trump's, Tom Quaadman, Jack Inglis, CFPB, Dennis Kelleher, Trump, Eugene Scalia, Gibson Dunn, Scalia, Antonin Scalia, Rebeca Romero Rainey, David Zaring, Kelleher, Douglas Gillison, Chris Prentice, Pete Schroeder, Nate Raymond, Jody Godoy, Megan Davies, Nick Zieminski Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, WASHINGTON, Democratic, Republican, Reuters, APA, U.S . Chamber of Commerce, Securities and Exchange Commission, Consumer Financial Protection Bureau, Funds, Alternative Investment Management Association, Fifth Circuit, Appeals, Better Markets, Biden, American Bankers Association, Labor, Supreme, Independent Community Bankers of, Federal, Wharton School, Thomson Locations: Washington, Independent Community Bankers of America

☆ US appeals court scraps Sempra's Port Arthur LNG emissions permit
▼ + stars: | 2023-11-15 | by ( Curtis Williams | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHOUSTON, Nov 15 (Reuters) - A U.S. court has removed an emissions permit for Sempra's (SRE.N) Port Arthur LNG export terminal in Texas, but the company said construction of the facility will continue for now. The approximately 13.5 million-metric-tons-per-annum (mtpa) Port Arthur plant has approval to export LNG to both Free Trade Agreement (FTA) and non-FTA countries, including Europe, and is part of the U.S. LNG expansion to meet growing global demand for the superchilled gas. The decision sends the Port Arthur LNG permit application back to the TCEQ for new evaluation. Investment firm KKR (KKR.N) owns a 20% stake in Sempra Infrastructure while Sempra Energy owns 70% and Abu Dhabi Investment Authority owns 10%. John Beard, executive director of the Port Arthur Community Action Network, which brought the lawsuit challenging TCEQ, said of the ruling: “We’ve won by standing up for Port Arthur communities of color to breathe free from toxic pollution.

Persons: Dado Ruvic, Port Arthur, Sempra, John Beard, “ We’ve, –, Biden, Alex Munton, Munton, Curtis Williams, Deepa Babington, Stephen Coates Organizations: REUTERS, Rights, Port Arthur, Free, U.S, U.S ., Appeals, Fifth Circuit, Texas Commission, Environmental, Rio, Rio Grande LNG, Port, Sempra Infrastructure, ConocoPhillips, Investment, KKR, Sempra Energy, Abu Dhabi Investment Authority, Port Arthur Community Action Network, Global Gas & LNG Research, Rapidan Energy, Thomson Locations: Port, Texas, Europe, Rio Grande, Port Arthur, Abu Dhabi, Houston

Circuit Court of Appeals ruling means the lease sale — once set for September, but postponed multiple times amid legal fights — will be held in December. And it must cover 73 million acres (30 million hectares), as originally planned when the administration announced the sale in the spring. The administration later scaled back the area covered by the lease sale to 67 million acres (27 million hectares) as part of an agreement to protect the endangered Rice’s whale. But the state of Louisiana joined oil and gas companies in opposing the changes. The American Petroleum Institute, a powerful U.S. oil and gas industry trade association, lauded the development.

Persons: Biden, —, ” George Torgun, Ryan Meyers Organizations: ORLEANS, U.S, Circuit, Industry, Biden, American Petroleum Institute, Energy, Fifth Circuit Locations: Gulf, Mexico, Louisiana

☆ Louisiana Must Finalize New Voting Map by January, Federal Appeals Court Says
▼ + stars: | 2023-11-10 | by ( Katie Benner | More About Katie Benner | ) www.nytimes.com time to read: +1 min

It was not clear whether the outgoing governor, John Bel Edwards, a Democrat, would call for a special session before the end of his term. “I remain confident that we will have a fair map with two majority Black districts before the congressional elections next year,” he said in a statement. After the 2020 census, all states were obligated to redraw their congressional districts to account for changes in their populations. Roughly a third of the state’s population is Black. But Louisiana’s Republican-led Legislature passed a map that included only one majority Black congressional district out of six in the state.

Persons: ” Jeff Landry, Landry, John Bel Edwards, ” Organizations: Fifth Circuit, Republican, Democrat Locations: Louisiana

☆ Why So Many Controversial Supreme Court Cases Come From the Fifth Circuit
▼ + stars: | 2023-11-08 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Why So Many Controversial Supreme Court Cases Come From the Fifth CircuitThe Supreme Court has some really controversial cases on its docket —including whether domestic abusers should have access to guns and whether the abortion pill should be legal. They all came from one lower court: the Fifth Circuit. WSJ explains why. Photo illustration: Madeline Marshall

Persons: Madeline Marshall Organizations: Fifth Circuit

☆ A Skeptical Supreme Court Considers Whether Domestic Abusers Have Gun Rights
▼ + stars: | 2023-11-07 | by ( Jess Bravin | ) www.wsj.com time to read: +1 min

The Supreme Court has some really controversial cases on its docket—including whether domestic abusers should have access to guns and whether the abortion pill should be legal. They all came from one lower court: the Fifth Circuit. WSJ explains why. Photo illustration: Madeline MarshallWASHINGTON—Supreme Court justices showed little sympathy Tuesday for a violent domestic abuser arguing he had a Second Amendment right to keep a semiautomatic rifle and a .45 caliber pistol at home, in arguments over the scope of a 2022 precedent holding gun regulations unconstitutional unless they are analogous to those in force in the founding era. “You don’t have any doubt that your client’s a dangerous person, do you?” Chief Justice John Roberts asked Matthew Wright, a federal public defender representing Zackey Rahimi, who was sentenced to more than six years for violating a federal law prohibiting people under domestic-violence protective orders from possessing firearms.

Persons: Madeline Marshall WASHINGTON, John Roberts, Matthew Wright, Zackey Rahimi Organizations: Fifth Circuit, Madeline Marshall WASHINGTON —

☆ Texas Man at Center of Supreme Court Case Says He No Longer Wants Guns
▼ + stars: | 2023-11-06 | by ( Abbie Vansickle | More About Abbie Vansickle | ) www.nytimes.com time to read: +1 min

“It’s a fundamental strategic goal to present cases in the most favorable light possible, and that would include having a sympathetic and relatable person,” said Clark Neily, the senior vice president for legal studies at the Cato Institute, which has advocated gun rights. A panel of judges on the U.S. Court of Appeals for the Fifth Circuit wrote that he was “hardly a model citizen,” even as they sided with him. Mr. Rahimi’s case could expand gun rights protections by undoing a federal law that makes it a felony to possess a gun while under a domestic violence protective order. Although the case has garnered a flood of amicus briefs from groups like the National Rifle Association, the Second Amendment Foundation, and the Phyllis Schlafly Eagles, the organizations have largely shifted focus away from Mr. Rahimi. “You could imagine a different case challenging this same law with a much more sympathetic plaintiff.”

Persons: “, ”, Clark Neily, Mr, Rahimi, Phyllis Schlafly Eagles, Eric Ruben Organizations: Cato Institute, U.S ., Appeals, Fifth Circuit, National Rifle Association, Amendment, Southern Methodist University, Brennan Center for Justice Locations: Texas

☆ Opinion | Will the Supreme Court Toss Out a Gun Law Meant to Protect Women?
▼ + stars: | 2023-11-06 | by ( Linda Greenhouse | ) www.nytimes.com time to read: +3 min

And that brings me to the second missing ingredient in the briefs supporting Rahimi: the Second Amendment itself. That is not surprising, the Cato brief notes, because when Section 922(g)(8) was enacted, there was no recognized right to individual gun ownership in the first place. to be deprived through such minimal process.”Other briefs in support of Mr. Rahimi take issue with the nature of protective orders themselves. When I first read Judge Ho’s opinion, I regarded it as an odd digression from the matter at hand, namely how to interpret and apply the Second Amendment. Does even this trigger-happy Supreme Court want to be seen as stripping from women in mortal danger from their intimate partners whatever safety this 29-year-old law has provided?

Persons: Roy S, Moore, ”, Rahimi, Heller, Cato, Judge James Ho, Abbott, Cruz Organizations: Foundation for Moral Law, Cato Institute, National Rifle Association Locations: Alabama

☆ Gary Gensler and the SEC Lose Again
▼ + stars: | 2023-11-03 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Review and Outlook: Minnesota Congressman Dean Phillips fears President Biden could lose to Donald Trump, and he’s right. Images: Reuters/AFP/Getty Images Composite: Mark KellyIs Gary Gensler ever going to win a case? On Tuesday the Fifth Circuit Court of Appeals handed the Securities and Exchange Commission Chairman another legal defeat by scuttling the agency’s stock-buyback rule (U.S. Chamber of Commerce v. The SEC in May finalized a rule requiring public companies to disclose their daily share repurchases and the reason for buying back their stock. Mr. Gensler claimed companies might buy back their stock to boost executive compensation, which is sometimes tied to accounting metrics such as earnings per share.

Persons: Dean Phillips, Biden, Donald Trump, Mark Kelly, Gary Gensler, Gensler Organizations: AFP, Getty, Circuit, Appeals, Securities and Exchange, . Chamber, Commerce, SEC Locations: Minnesota

☆ Court Sends Stock-Buyback Rule Back to SEC
▼ + stars: | 2023-11-01 | by ( Paul Kiernan | ) www.wsj.com time to read: 1 min

The Securities and Exchange Commission has recently been pushing an aggressive regulatory agenda. Photo: Ariel Zambelich/The Wall Street JournalWASHINGTON—A conservative appeals court dealt a setback to the Securities and Exchange Commission’s plan to give investors more information about stock buybacks after business groups challenged the rule. Responding to a May lawsuit by the U.S. Chamber of Commerce and two Texas-based business groups, a three-judge panel on the Fifth Circuit Court of Appeals ruled that the SEC’s new requirements for share repurchases were “arbitrary and capricious.” The judges agreed with the groups’ assertion that the SEC didn’t adequately explain the rule’s costs and benefits.

Persons: Ariel Zambelich Organizations: Securities, Exchange Commission, Street Journal WASHINGTON, Exchange, U.S . Chamber of Commerce, Fifth Circuit, Appeals, SEC Locations: Texas

☆ Top US bankruptcy judge resigns following revelation of undisclosed romantic relationship
▼ + stars: | 2023-10-15 | by ( Nicole Einbinder | Dakin Campbell | ) www.businessinsider.com time to read: +4 min

Insider recently revealed that prominent bankruptcy judge David Jones was in a romantic relationship with a bankruptcy attorney. Both Jones and the attorney had involvement with the bankruptcy case of the prison healthcare company Corizon. Jones oversaw the settlement talks in Tehum's bankruptcy; Freeman represented YesCare — and signed off on Jones' appointment as mediator in May. "Judge Jones did not disclose his relationship with Ms. Freeman to the parties, to their counsel or to the bankruptcy judge who appointed Judge Jones," the misconduct complaint says. Already, the disclosure of Jones' relationship has encouraged the US Trustee to intervene.

Persons: David Jones, Jones, —, –, Elizabeth Freeman, Jackson Walker, Freeman, Corizon, Tehum, YesCare —, Michael Van Deelen, Priscilla Richman, Richman, Judge Jones, Christopher Lopez, " Jones Organizations: Fifth, Service, Southern, Southern District of Texas, Corizon Health, Tehum Care Services, Wall Street Journal, Appeals, Circuit, Fifth Circuit, Bloomberg Locations: Southern District, Texas, Corizon, Tehum's

☆ Illumina to divest Grail within a year if it does not win challenge in EU court
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Companies Grail Inc FollowIllumina Inc FollowOct 13 (Reuters) - Illumina (ILMN.O) said on Friday it would divest cancer test maker Grail (GRAL.O) in 12 months, according to the terms of the European Commission's order, if the life sciences company does not win its challenge in court. EU antitrust regulators on Thursday ordered Illumina to divest Grail, after it completed the deal before securing their approval. The San Diego-based genetic testing company last year challenged the EU watchdog saying it does not have jurisdiction over the acquisition of Grail. But if it is not successful with either its ECJ jurisdictional appeal or in a final decision of the U.S. Fifth Circuit Court of Appeals, Illumina will divest Grail. Illumina had in June appealed against the order by the Federal Trade Commission, which enforces antitrust law in the U.S., to divest Grail.

Persons: Illumina, it's, Sriparna Roy, Shilpi Majumdar Organizations: Illumina, European Court of Justice, U.S, Fifth, Appeals, Federal Trade Commission, Thomson Locations: San Diego, U.S, Bengaluru

☆ Prominent bankruptcy judge David Jones recused from cases, under investigation after exposure of undisclosed romantic relationship
▼ + stars: | 2023-10-13 | by ( Nicole Einbinder | Dakin Campbell | Esther Kaplan | ) www.businessinsider.com time to read: +7 min

Last week, Insider revealed that prominent bankruptcy judge David Jones was in a romantic relationship with a bankruptcy attorney. The Office of the US Trustee, the bankruptcy regulator, has filed an objection in the Corizon bankruptcy case, citing Jones' "admissions." The Office of the US Trustee intervenesToday the Office of the US Trustee, the federal regulator that oversees bankruptcy cases, took the unusual step of intervening in the bankruptcy case. AdvertisementAdvertisementThe office filed multiple objections to the proposed settlement plan overseen by Judge Jones, including concerns about Jones' role as mediator. The bankruptcy plan breaks creditors down into several classes.

Persons: David Jones, Jones, —, Elizabeth Freeman, Freeman, Corizon, Tehum, Michael Van Deelen, didn't, he'd, Harris, Marvin Isgur, Christopher Lopez, Lopez, Judge Jones, Hector Garcia Jr, Hector Garcia, they're, Lila Hassan Organizations: Fifth Circuit, Service, Southern, Southern District of, Court, Fifth, Tehum Care, Wall Street Journal, Houston, Corizon Locations: Southern District, Southern District of Texas, Texas, YesCare, New Mexico

☆ Supreme Court case may gut the CFPB: Consumer watchdog's ‘future is on the line,’ group says
▼ + stars: | 2023-10-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Visitors walk across the U.S. Supreme Court plaza on the first day of the court's new session on Oct. 2, 2023. Bill Clark | Cq-roll Call, Inc. | Getty ImagesWhy the CFPB's funding may be unconstitutionalThe Consumer Financial Protection Bureau headquarters in Washington. Lawmakers created the federal agency to protect consumers from predatory financial practices. The Supreme Court ruled against the agency in a 2020 case, Seila Law v. CFPB, finding part of its structure to be unconstitutional but ultimately keeping the agency intact. Instead, the CFPB's funding isn't authorized by Congress each year.

Persons: Bill Clark, Washington . Samuel Corum, Dodd, Frank, —, John Coleman, Orrick, Coleman, Rohit Chopra, Tom Williams Organizations: U.S, Supreme, Cq, Inc, Getty, Financial, Bloomberg, Lawmakers, U.S ., Appeals, Circuit, Congress, Federal Reserve, 5th Circuit, Congressional Research Service, Mortgage Bankers Association, National Association of Home Builders, National Association of Realtors Locations: Washington .

☆ The fate of this consumer watchdog is in the hands of the Supreme Court
▼ + stars: | 2023-10-03 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

New York CNN —On Tuesday, the Supreme Court began hearing oral arguments in a case that will determine the fate of the Consumer Financial Protection Bureau. The Supreme Court will have the final say on that, however. The consumer watchdog agency was created after the 2008 financial crisis by way of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If the Supreme Court finds the CFPB’s funding structure unconstitutional, it could shutter the agency and invalidate all of its prior rulings. From listening to the case on Tuesday, though, Lynyak believes the Supreme Court will rule that the CFPB’s funding structure is constitutional.

Persons: Dodd, Frank Wall, Democratic Sen, Elizabeth Warren, Ting Shen, Wells, Sam Gilford, ” There’s, Joseph Lynyak III, Lynyak, ”, Noel Francisco, Francisco, “, Sonia Sotomayor, Amy Coney Barrett Organizations: New, New York CNN, Supreme, Consumer Financial, Bureau, Community Financial Services Association of America, Appeals, Fifth Circuit, Frank Wall Street Reform, Consumer, Democratic, Harvard Law School, Federal Reserve, Bloomberg, Getty, “, Mortgage Bankers Association, National Association of Homebuilders, National Association of Realtors, Bank of America, Court, Federal Deposit Insurance Corporation, Congressional, CNN, Dorsey & Whitney, Republican Locations: New York, New Orleans, United States

☆ Social Security, Medicare, and other key programs Americans rely on could become 'vulnerable' depending on an upcoming Supreme Court ruling, a former federal official says
▼ + stars: | 2023-10-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Supreme Court is hearing oral arguments in a case challenging the CFPB's funding structure. A former FDIC official said an adverse ruling could risk Social Security and Medicare. Any agency that doesn't rely on annual funding from Congress would be jeopardized, she said. AdvertisementAdvertisementStill, advocates and lawmakers have stressed the importance of preserving the CFPB's funding structure to protect consumers from the potential fallout. A bad decision in the Supreme Court could wreck the financial security of millions of families and turn our economy upside down."

Persons: —, Sheila Bair —, Federal Deposit Insurance Corporation —, Bair, Dodd, Frank Wall, Shahid Naeem, Massachusetts Sen, Elizabeth Warren, Warren Organizations: FDIC, Security, Service, Financial, Community Financial Services Association of America Ltd, Federal Reserve, Fifth Circuit, Federal Deposit Insurance Corporation, Social Security, Frank Wall Street Reform, Consumer Protection, American Economic Liberties Project, Congress Locations: Massachusetts

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