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Banking Trade Groups Suing CFPB Over Late Credit Card Fees Must Transfer Case from Texas to DC https://t.co/g579yhcBTx #banking #finance #CFPB @GT_Law https://t.co/LwYqpH9TSa
A lawsuit brought by the US Chamber of Commerce and banking trade groups challenging the CFPB’s credit card late fee rule will be transferred to Washington, D.C. https://t.co/7VNvcLCFHk
A Texas federal judge ruled that the U.S. Chamber of Commerce and other trade groups suing to block the CFPB's $8 credit card late-fee standard must take their case to D.C. federal court, granting the agency's bid to fight the challenge on its home turf. https://t.co/wwU7gSYysb https://t.co/pba3F3dk4Q
Multiple business and banking organizations, including the Texas Association of Business and the U.S. Chamber of Commerce, have filed a lawsuit to block the Consumer Financial Protection Bureau's rule on credit card late fees. A Texas judge has transferred the case to a Washington, D.C. trial court, accusing banks of seeking a favorable ruling by venue shopping.
