Posts tagged State National Bank of Big Spring Texas.
Most constitutional challenges to agency action arise as a defense to an enforcement action. However, State National Bank of Big Spring, Texas (the "Bank") has led a constitutional challenge to the very existence and structure of the Consumer Financial Protection Bureau ("CFPB") from day one. The CFPB was created by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The Bank's ambitious challenge to the constitutionality of the CFPB is rooted in five core arguments: 1) as an independent agency, the CFPB could not be headed by one person, Director Richard Cordray ...
Posted in: CFPB, Dodd-Frank Act
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