Group Seeks CFPB's Prepaid-Rule Exchanges With GOP Foes

Law360, New York (April 18, 2017, 4:26 PM EDT) -- A liberal activist group sued the Consumer Financial Protection Bureau in D.C. federal court on Tuesday to hasten the agency’s turnover of correspondence with Republican senators who are seeking to eliminate a new regulation that provides credit card-like protections to prepaid card users.

Allied Progress is seeking expedited processing of two Freedom of Information Act requests concerning the CFPB’s new prepaid rule, saying Republican lawmakers’ recent attempts to eliminate the regulation under the Congressional Review Act warrant an accelerated response.

“The request sought expedited processing because of the urgent public need to understand the decision-making process behind the prepaid rule, and...

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