Chamber of Commerce and bank groups sue CFPB for using unfairness power to pursue discriminatory conduct

by Jeff Sovern

As we have previously discussed, the CFPB takes the position when supervising banks that discrimination is unfair within the meaning of the Consumer Financial Protection Act. As reported by Bloomberg's Evan Weinberger, the Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association, and others have now sued the CFPB in Texas (it's always Texas) to challenge that position. The complaint also alleges that the CFPB's funding structure violates the appropriations clause.

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