After President Obama appointed a director of the new Consumer Financial Protection Bureau without the approval of Congress, industry observers insisted that a lawsuit was imminent.

Yet, in the weeks that followed, no plaintiffs stepped forward to challenge the constitutionality of the appointment. Challenging the constitutional authority of the president—and the validity of the power of the newly appointed director—is complicated.

The success of a lawsuit depends on the plaintiff’s right to bring a case to court. The plaintiff would have to prove that the CFPB had harmed it because of the agency’s director.

“The only people who are going to have standing n the near future are people who the bureau targets for an enforcement action, either in court or through the administrative process at the CFPB,” said Ballard Spahr’s consumer financial services partner Alan Kaplinsky. “Once that happens, then the target of that enforcement action may very well have standing.”