Posted on 06/24/2013 at 10:14 AM by John Lande
This morning at 8:30 am CST, the United States Supreme Court granted review in National Labor Relations Board v. Noel Canning. This is a case that challenges President Obamas recess appointment of three members to the National Labor Relations Board. This decision will have dramatic implications for other government agencies. President Obama has made numerous recess appointments in an effort to get around difficult Senate confirmation battles. Of particular note to banks is the fact that Richard Cordray, head of the CFPB, was recess appointed. This blog has detailed the issues at stake in Noel Canning for financial institutions and their regulators. We have also been following this case since it was originally decided by the United States Court of Appeals for the District of Columbia. Banks have already filed cases challenging Mr. Cordrays appointment that are currently pending in court. The Supreme Court will consider Noel Canning during its term starting October 2013.