> Legal, News Item, People > Challenge to Corday?s Appointment Lacks Standing
A complaint filed last June by a Texas bank and two non-profit organizations challenged the validity of Richard Cordray?s recess appointment as head of the Consumer Financial Protection Bureau (CFPB) because the Senate was technically not in recess, according to HousingWire. The bank, State National, contends the CFPB?s Unfair, Deceptive and Abusive Acts or Practices (UDAAP) caused the bank to leave the mortgage lending business. The CFPB filed a motion to dismiss the case because the bank lacks standing, meaning State National cannot show sufficient connection to and harm from the appointment, nor does it have authority to challenge the constitutionality of a recess appointment. MHProNews has learned several governmental agencies, including the Treasury Department as well as the Securities and Exchange Commission, agree the bank and the other two organizations do not have standing.
(Image credit: CNNMoney)
Categories: Legal, News Item, People acts, CFPB, constitutionality, governmental agencies, MHProNews, mortgage lending, profit organizations, recess appointment, Richard Cordray, securities and exchange, Securities and Exchange Commission, Senate, Treasury Department, validitycyber monday deals small business saturday small business saturday Johnny Manziel best cyber monday deals best cyber monday deals macaulay culkin
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.