Challenging The CFPB In Court: Inside The Complaint
July 3, 2012, 12:50 PM EDT
Law360, New York (July 3, 2012, 12:50 PM EDT) -- Recently, amid an inordinate amount of deliberately sought publicity, a lawsuit was filed challenging the constitutionality of the Consumer Financial Protection Bureau itself, of the Financial Stability Oversight Council (FSOC), as well as that of the recess appointment of Richard Cordray as director. State National Bank of Big Spring, Texas, et al. v. Geithner, et al., No. 1:12-cv-01032-esh.
The case is an audacious court challenge to some of the more controversial aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, namely Titles I and...