Nofziger Quoted in Law360 on Impact of CFPB Budget Cuts on Ongoing Legal Battle
Dustin Nofziger, a member of Pryor Cashman’s Financial Institutions Group, was quoted in a Law360 article analyzing how a steep funding cut to the Consumer Financial Protection Bureau (CFPB) could influence ongoing litigation over the agency’s downsizing.
In the article, “CFPB Funding Cut Could Alter Injunction Calculus at D.C. Circ.”, Dustin addressed the political nature of the appropriate scope and operations of the agency, explaining that Congress’s decision to reduce the agency’s funding created “atmospherics” that were not helpful to the union representing CFPB employees:
“There are a lot of judgment calls being made here about how much the [B]ureau should be doing, and there's a lot of nuance and different approaches you could take.”
He also questioned whether courts are the proper venue for making such determinations:
“I struggle to understand, and I suspect the D.C. Circuit will, too, how courts are supposed to decide if the Bureau is requesting enough money from the Fed or needs more than some number of employees to perform its required functions[.] Those are not judgments that the courts are well-suited to assess.”
Read the full article using the link below.
