CFPB 1, Bankers 0
A U.S. District Court dismissed a case brought originally by a Texas bank and the Competitive Enterprise Institute that claimed the CFPB did not have the authority to regulate the financial services industry; the suit, which was later joined by 11 other states, challenged the constitutionality of the Dodd-Frank Act that created the CFPB. The plaintiffs plan to appeal. For a bank lawyer's take on the case, see State National of Big Spring Springs a Leak. [8/7]