CFPB official seal. Credit/Shutterstock
A recent decision by a federal district court in Texas (Chamber of Com. of U.S. v. Consumer Fin. Prot. Bureau) has gotten a lot of attention lately, and for good reason. It answers three basic questions that are asked when a regulation is challenged and does so in a way that substantially reduces the CFPB's UDAAP powers. In fact, even if the Supreme Court ultimately upholds the constitutionality of the Bureau's funding mechanism, if the district court's ruling is upheld, financial institutions, particularly larger ones, will have achieved an important legal victory.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
