The order list issued this morning by the U.S. Supreme Court did not include a ruling on the certiorari petition filed by the CFPB seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule (Rule). It also did not include a ruling on the cross-petition for certiorari filed by Community Financial Services Association asking the Court to review the alternative grounds for vacating the Rule that the Fifth Circuit rejected.
The cases had been distributed to the Supreme Court for consideration at its conference last Friday, February 17. The case dockets now indicate that the cases have been distributed for consideration at the Court’s next conference which is scheduled for Friday, February 24.