Fannie Mae (FNMA)

[ano]

it is always more complicated, I think CFPB settled, if Seila law would have won their case, the other dozen pending lawsuits would have won their case too, so CFPB would have less power.
Why would Seila abandon the winning team, they invested soo much into it, way up to SCOTUS, it doesn't make sense at all


"On remand in the ninth circuit, Seila Law argued that a ratification submitted by the CFPB, which the then-Director Kathy Kraninger had signed only after the Supreme Court’s decision in the case, was not valid because an action taken by an agency without authority cannot be ratified if the principal lacked the authority to take the action when the action was taken. The Ninth Circuit disagreed, holding that the investigative demand was still enforceable because the CFPB’s ratification had cured any constitutional defect in the demand by validly reauthorizing it under the agency’s new structure.

The panel denied rehearing, despite the dissenting judges’ opinion that ratification is not “a proper remedy for separation-of-powers violations” that affect an agency’s structure, and “no ratification is permissible” because the Supreme Court’s “determination that severance was necessary confirms that the CFPB lacked Executive authority pre-severance,” and “[t]he doctrine of ratification does not permit the CFPB to retroactively gift itself power that it lacked.”
https://www.jdsupra.com/legalnews/ninth-circuit-stays-mandate-in-seila-4349646/


"On October 8, counsel for the appellant in CFPB v. Seila Law LLC sent a letter to the U.S. Court of Appeals for the Ninth Circuit stating that, after further consideration, it will not petition Supreme Court a second time"
https://buckleyfirm.com/blog/2021-10-13/seila-law-will-not-petition-supreme-court-second-time