NCUA Chairman Debbie Matz is named as a defendant in a lawsuit filed June 22 that challenges the constitutionality of the Consumer Financial Protection Bureau.
According to U.S. District Court records filed in Washington, plaintiffs include the $275 million State National Bank of Big Spring, located in Big Spring, Texas; non-profit think tank The Competitive Enterprise Institute, and the 60 Plus Association, an Alexandria, Va.-based senior citizen advocacy group.
The organizations challenge the constitutionality of the formation of the CFPB and the Financial Stability Oversight Council, both mandated by the Dodd-Frank Act, and President Barack Obama's Jan. 4, 2012 recess appointment of Director Richard Cordray, which did not occur during an official Senate recess.
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:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 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.
