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Supreme Court will not hear CFPB constitutional challenge

Joe Mont | January 14, 2019

The Supreme Court has declined to hear a lawsuit that challenged the constitutionality of the Consumer Financial Protection Bureau. 

The State National Bank of Big Spring, Texas, the Competitive Enterprise Institute, and the 60 Plus Association were petitioners in the case, State National Bank of Big Spring v. Mnuchin. The lawsuit was on appeal from the U.S. Court of Appeals for the District of Columbia Circuit.

 “We are disappointed by the Supreme Court’s decision to turn down the case,” Sam Kazman, CEI’s general counsel, said on Monday. “The case raised constitutional issues of major importance regarding the CFPB, an agency that wields massive power over the economic activities of the public and sets a dangerous precedent for unaccountable federal bureaucracy. But there are other pending lawsuits that raise these same issues, and we are hopeful the court will have another opportunity to review them.”

“State National Bank brought this case because we...

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