Kannon Shanmugam Interviewed by NLJ About His Supreme Court Victory Concerning the Constitutionality of the CFPB

Litigation partner Kannon Shanmugam was interviewed by The National Law Journal about Paul, Weiss’ role in the landmark Supreme Court decision on June 29 in Seila Law v. Consumer Financial Protection Bureau. In a win for our client Seila Law, the Court held in a 5-4 decision that the president has the authority to fire at will the director of the CFPB. The decision is widely viewed as among the most important separation-of-powers decisions in recent years, with the outcome potentially having significant ramifications for presidents, the CFPB, businesses and other independent agencies such as the SEC and FTC, as well as for fundamental separation-of-powers principles.

Kannon, who argued on behalf of Seila Law, reflected that “[t]here are a lot of questions still to be worked out, including questions about the effect of the decision on previous actions taken by the CFPB while it was unconstitutionally structured… The real question is whether agencies structured as multimember commissions will be held invalid as well.”

» read the interview