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Texas Bank’s CFPB Fight Intensifies

In a motion, State National Bank calls for a declaration stating the CFPB is unconstitutional.

By Natasha Chilingerian | Updated on November 09, 2015

Continuing its battle against the CFPB, a small community bank in Texas filed a motion for summary judgement Monday seeking a declaration that the formation of the bureau and 2012 recess appointment of Director Richard Cordray was unconstitutional.

Filed in U.S. District Court for the District of Columbia against U.S. Secretary of the Treasury and former Chairman of the Financial Stability Oversight Council Jacob J. Lew, the motion also requested a declaration stating “all CFPB regulations promulgated during the time of Cordray’s illegal appointment that impacted plaintiffs are invalid and cannot be enforced.”

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Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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