Dustin Nofziger, a member of Pryor Cashman's Financial Institutions Group, spoke with The Washington Times about a recent U.S. Supreme Court decision and its potential implications for federal administrative agencies.
In "Supreme Court takes on the administrative state and power-hungry bureaucrats," Dustin discusses Axon Enterprise, Inc. v. Federal Trade Commission et al., a case that has broad implications for respondents in administrative adjudication proceedings, including before the Securities and Exchange Commission and the Consumer Financial Protection Bureau, who may have grounds to assert that the agency's structure violates the Constitution:
Dustin Nofziger, a lawyer with Pryor Cashman LLP, said that [the CFPB's recent action to update its administrative adjudication regulations] could indicate the agency is getting ready to use the administrative process more often.
But he said they should keep an eye on where the high court is headed.
"But now the situation after this Axon case is if the CFPB brought an administrative proceeding against you, you would immediately go into court and seek relief on the basis that the agency is unconstitutionally funded," he said. "You have a really good chance at stopping the administrative proceeding in its tracks."
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