A federal judge in Texas has accused the major banking industry groups and the U.S. Chamber of Commerce of forum shopping in their lawsuit against the Consumer Financial Protection Bureau. It's a major win for the federal regulator, who had argued the only reason banks filed their lawsuit in Texas was to increase their chance of a favorable ruling.
President Joe Biden sits after speaking during a meeting with his Competition Council in the State Dining Room of the White House in Washington, Tuesday, March 5, 2024. NEW YORK — A Texas federal judge on Thursday accused the major banking industry groups and U.S. Chamber of Commerce of venue shopping in their lawsuit against the Consumer Financial Protection Bureau, a major win for the federal regulator.
“Venue is not a continental breakfast; you cannot pick and choose on a Plaintiff’s whim where and how a lawsuit is filed,” Pittman wrote., where the average late fee of a customer would be capped at $8, down from the average late fee of $32. The major banking groups had filed their lawsuit in the U.S. District Court in the Northern District of Texas. Industry and interest groups have often filed lawsuits against the Biden administration there, due to its historically conservative judges.
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