Author: Jessica Mikhailevich Pierce

Jessica Mikhailevich Pierce

Jessica is an associate in the Bankruptcy and Finance and Restructuring Group. Jessica focuses her practice in the area of creditors’ rights, commercial litigation, and insolvency and receivership proceedings. She also represents significant creditors, official committees and lenders in bankruptcy cases and out-of-court restructurings. Jessica’s representation also includes assisting buyers in the acquisition of distressed assets in bankruptcy, including operating companies, real estate, distressed debt, intellectual property, and fixed assets. Jessica has represented both plaintiffs and defendants in numerous avoidance actions and adversary proceedings brought under the bankruptcy code.

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Problems With the CFPB’s Argument: An Analysis of the D.C. Circuit Oral Arguments on Statute of Limitations

What began as a challenge to the Consumer Financial Protection Bureau’s (“CFPB”) $109 million enforcement ruling against the mortgage company PHH Corp. (“PHH”) for alleged violations of the Real Estate Settlement Procedures Act (“RESPA”), has evolved into a broader discussion about the constitutionality of the agency itself. As demonstrated in the closely watched federal appeal brought by PHH, critical developments occurred earlier this month that have implications for the agency’s future enforcement approach.

SEC Administrative Law Judges Ruled Unconstitutional

A recent decision from the U.S. District Court for the Southern District of New York concludes that the manner in which Administrative Law Judges (“ALJs”) of the U.S. Securities and Exchange Commission (“SEC”) are appointed is improper under the Appointments Clause of Article II of the Constitution. The decision is important to the consumer finance industry for several reasons discussed in this article.