CFPB Can't Shake Challenge To Financial Law Taskforce
By Jon Hill (February 26, 2021, 8:17 PM EST) -- A Boston federal magistrate judge has ruled that consumer advocates can proceed with their lawsuit that seeks to bar the Consumer Financial Protection Bureau from adopting the recommendations of a Trump-era task force convened to study potential changes to federal consumer financial law.
In a Thursday decision, U.S. Magistrate Judge Jennifer Boal denied a CFPB bid to kneecap the lawsuit over now-former Director Kathleen Kraninger's Consumer Financial Law Taskforce, which consumer advocates have alleged was illegally constituted and designed to support industry-friendly deregulation.
The suit, which the National Association of Consumer Advocates and others filed last summer, was challenged on standing...
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