The Consumer Financial Protection Bureau's Richard Cordray's confirmation as director is in jeopardy. His fate as director—and the fate of the CFPB itself—may depend on a Supreme Court ruling in a case not directly related to the bureau or Mr. Cordray.

Meanwhile, the partisan battle over the CFPB continues to rage in the U.S. Congress, with Republicans fiercely opposed to the bureau and the Democrats opposed to compromise over it. The bureau is seeking a resolution in federal courts and awaiting a decision in a case that may not resolve until after Dir. Cordray's interim term has ended. The D.C. Circuit case in question affirmed an earlier ruling that recess appointments made to the National Labor Relations Board in 2012 violated the Constitution. The U.S. Supreme Court is now expected to hear the case on apeal.

Ballard Spahr consumer financial services partner Alan S. Kaplinsky told SNL Financial: "The court is almost certainly going to grant this case review. There are very few cases in recent memory that are as important as this one, not only in terms of the future of the NLRB, but also of the CFPB. ... Nothing will be accomplished politically to deal with Cordray until the administration has played out every option available to it in court."

Mr. Kaplinsky also stated: "It's very unlikely [the NLRB appeal] is going to be heard this term, by the end of June. In which case the appeal gets briefed over the summer, gets argued in mid-October or early November, and a decision is likely handed down early in 2014."

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