Another lawyer thinks the CFPB has gone too far. This time, the lawyer, Kimberly Pisinski, is a named plaintiff in an action alleging that the CFPB has engaged in improper attempts to regulate the practice of law, among other violations. Ms. Pisinski and her co-plaintiff, legal support services company Morgan Drexen Inc., also challenge the constitutionality of the CFPB's structure as a whole. Ms. Pisinski's complaint, which was filed yesterday in the District Court for the District of Columbia, takes issue with a Civil Investigative Demand the CFPB issued to Morgan Drexen that sought information about its relationships with the attorneys it supports.
Ms. Pisinski alleges that based on documents it received from Morgan Drexen, the CFPB took the position that the attorneys supported by Morgan Drexen are violating the Telemarketing Sales Rule, 16 C.F.R. 310.1, et seq. Pisinski alleges that the CFPB's actions amount to an attempt to regulate the practice of law. While Pisinski challenges the CFPB's specific conduct that relates to her law practice, she also makes sweeping allegations challenging collection of financial information in general and organizational structure. Financial services companies and the lawyers who serve them may want to keep an eye on Ms. Pisinki's lawsuit as it develops.
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