The Consumer Financial Protection Bureau has taken its opening shot against a legal challenge to its authority.
In June, State National Bank of Big Spring et al. v. Timothy Geithner et al. (in his official capacity as Secretary of the Treasury and Chairman of the Financial Stability Oversight Council) was filed in U.S. District Court for the District of Columbia. Parties to the suit included the 60 Plus Association and Competitive Enterprise Institute. In September, an amended complaint added the Republican state Attorneys General of South Carolina, Oklahoma, and Michigan.
