Best Shot At Scuttling Dodd-Frank Dismissed In Federal Court
August 8, 2013
The plaintiffs, including a Texas bank, two conservative groups and the attorneys general of 11 states, alleged that powers given to the Consumer Financial Protection Bureau by way of the Dodd-Frank Act violate the Constitution. The case was dismissed by a federal judge who ruled the plaintiffs had not been harmed and lacked standing to bring the case. More challenges are in the wings, but the writer advises companies to assume the authority of the CFPB is solid and concentrate on compliance.
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