CFPB Seeks To Blunt Challenge To Financial Law 'Taskforce'

Law360 (August 18, 2020, 8:58 PM EDT) -- The Consumer Financial Protection Bureau on Monday hit back at a lawsuit challenging its creation of a "taskforce" to review federal consumer financial laws, telling a Boston federal court that the consumer advocates behind the litigation lack standing to get the advisory panel shut down.

In a partial dismissal motion, the CFPB argued that the two advocacy groups and consumer financial legal scholar accusing the agency's Taskforce on Federal Consumer Financial Law of being an illegally constructed deregulatory Trojan horse haven't alleged valid injuries to support key claims in their suit.

"Plaintiffs contend that 'the secrecy of the taskforce ... prevents...

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