legal-banking-regulation1.845 min read "Texas Judge Challenges Banking Industry's Venue Shopping in Late Fee Case"
A Texas federal judge accused major banking industry groups and the U.S. Chamber of Commerce of venue shopping in their lawsuit against the Consumer Financial Protection Bureau, ruling that the case should be transferred to Washington, where the banking lobby has more legal resources. The lawsuit concerns the CFPB's new regulations on credit card late fees, which the banking industry is seeking to stop due to potential revenue losses. The judge found little reason for the lawsuit to be filed in Texas and agreed with the Biden administration that Washington is a more appropriate venue for the case.
1 year ago•Source: AOL
