States Assert Standing In DC Circ. Dodd-Frank Challenge
By Stephanie Russell-Kraft
Law360, New York (May 13, 2014, 7:14 PM EDT) -- Eleven states urged the D.C. Circuit on Monday to overturn a lower court’s dismissal of their constitutional challenge to key provisions of the Dodd-Frank Act, saying they have standing to bring the suit because the legislation has already stripped them of their property rights under the U.S. Bankruptcy Code.
The states — South Carolina, Michigan, Oklahoma, Georgia, West Virginia, Kansas, Alabama, Nebraska, Texas, Ohio and Montana — told the appellate court in their final opening brief that the D.C. district court wrongfully found they lacked standing...