CFPB v. J.G. Wentworth, LLC

Case Updates

The district court denied the CFPB’s petition to enforce its civil investigative demands against J.G. Wentworth as moot.

The U.S. Chamber filed an amicus brief urging the United States District Court for the Eastern District of Pennsylvania to deny the Consumer Financial Protection Bureau’s (“CFPB”) petition to enforce its civil investigative demand (“CID”) of J.G. Wentworth’s structured settlement and annuity payment purchasing activities.

The brief argued that the court should exercise judicial oversight and independently assess whether the CID exceeds the CFPB’s authority. In this case, the brief explains, a CID cannot be justified by the CFPB’s authority over either extensions of consumer credit or consumer financial advisory services. Finally, enforcing the CID would expand the CFPB’s authority far beyond the limits established by Congress.

Christopher M. Mikson, Andrew J. Pincus, Ori Lev, and Stephen C.N. Lilley of Mayer Brown LLP served as counsel for the U.S. Chamber of Commerce on behalf of the U.S. Chamber Litigation Center.