Breaking News!!! No April Fool's Joke: Appellate Court to Grant a Stay of the Fed's LO Compensation Rule
Well, What a huge blessing this could turn to be. We have all been reading industry updates, listening in on conference calls, watching webinars and worrying about how to provide for our families after this hellish regulatory Bull Poopie goes ito affect.
The good news is that it can't be any worse than we expected it to be on 4/1. It can stay the same or get better.
Case: 11-5078 Document: 1301118 Filed: 03/31/2011 Page: 1
United States Court of Appeals
FOR THE DISTRICT OF COLUMBIA CIRCUIT
____________
No. 11-5078 September Term 2010
September Term 2010
1:11-cv-00489-BAH
1:11-cv-00506-BAH
Filed On:
March 31, 2011National Association of Mortgage Brokers,
Appellant
National Association of Independent Housing
Professionals, Inc.,
Appellee
v.
Board of Governors of the Federal Reserve
System, et al.,
Appellees
------------------------------
Consolidated
with 11-5079
BEFORE:
Henderson, Tatel, and Kavanaugh, Circuit JudgesO R D E R
Upon consideration of the emergency motion for expedited relief and the
emergency motion to stay implementation of final rule pending appeal, it is
ORDERED
that the implementation of the rule under review in theseconsolidated cases, 12 C.F.R. § 226.36(a), (d), and (e), be stayed pending further order
of the court. The purpose of this administrative stay is to give the court sufficient
opportunity to consider the merits of the motions for emergency relief and should not be
construed in any way as a ruling on the merits of those motions. See D.C. Circuit
Handbook of Practice and Internal Procedures 32 (2010). It is
Case: 11-5078 Document: 1301118 Filed: 03/31/2011 Page: 1
United States Court of Appeals
FOR THE DISTRICT OF COLUMBIA CIRCUIT
____________
No. 11-5078 September Term 2010
FURTHER ORDERED
, on the court's own motion, that the government file acombined response to both motions by 12:00 noon, Monday, April 4, 2011, not to
exceed 20 pages. Appellants may file a joint reply to the government's response by
10:00 a.m., Tuesday, April 5, 2011, not to exceed 10 pages. The parties are directed to
hand-deliver the paper copies of their submissions to the court by the time and date
due.
Per Curiam
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