A federal judge has dismissed a lawsuit filed by a New York City credit union that challenged the appointment of Mick Mulvaney as acting director of the CFPB.

U.S. District Judge Paul Gardephe ruled on Friday that the Lower East Side People's Federal Credit Union did not have standing to challenge the appointment.

"The mere fact that the plaintiff is regulated by the CFPB does not confer standing to bring this suit," the judge ruled, adding that the credit union was relying on a "fear-based theory" to challenge the appointment.

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