Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., August 29, 2020.
U.S. District Judge J. Campbell Barker ruled in favor of the groups on Friday, saying the Dodd–Frank Act, which created the CFPB, treats discrimination and unfairness as distinct concepts.
The CFPB in March 2022 announced that it would examine consumer financial institutions' practices for illegal discrimination as part of its broader mandate to combat unfair practices.
The industry groups said the CFPB unlawfully stretched that mandate to include discrimination, expanding its authority beyond existing fair lending laws.
The industry groups argued that the CFPB acted arbitrarily by scrutinizing "disparate impacts" on consumers.
Persons:
Andrew Kelly, District Judge J, Campbell Barker, Dodd, Frank, Rob Nichols, Jody Godoy, Andy Sullivan, Mark Porter
Organizations:
Consumer Financial Protection Bureau, Washington , D.C, REUTERS, Consumer Financial, U.S . Consumer Financial Protection Bureau, American Bankers Association, U.S . Chamber of Commerce, U.S, District Judge, Circuit, Supreme, Commerce, Court, Eastern District of Texas, Thomson
Locations:
Washington ,, U.S, Texas, Eastern District, New York