Charleston, WV (WOAY) – West Virginia Attorney General Patrick Morrisey and 13 other attorneys general filed an opposition brief to a new rule implemented by the Biden administration’s Consumer Financial Protection Bureau (CFPB).
The coalition states the new rule seeks to unlawfully expand the CFPB’s authority to encompass several practices that Congress has not granted the agency to regulate, including investigating and punishing all acts of discrimination in the industry.
The Dodd-Frank Act provides CFPB with certain authorities for regulating the consumer finance industry.
In their amicus brief filed in the U.S. District Court for the Eastern District of Texas, the attorneys general argues that the rule exceeds the CPFB’s authority, illegally bypasses notice and comment, and seeks to avoid judicial review.
