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BG&A Wins Standing Argument to Challenge the Consumer Financial Protection Bureau

By July 24, 2015No Comments

BG&A helped to secure a significant victory for the State National Bank of Big Spring, the Competitive Enterprise Institute, and the 60 Plus Association, in their ongoing litigation challenging the unconstitutionally structured Consumer Financial Protection Bureau and its unconstitutionally appointed director. Today, the U.S. Court of Appeals for the D.C. Circuit unanimously held that the D.C. Circuit has standing to litigate its constitutional claims. The court rejected the Administration’s assertion that Dodd-Frank does not harm community banks such as the State National Bank of Big Spring.

When this case was originally filed, C. Boyden Gray and the bank’s president, Jim Purcell, co-authored a Wall Street Journal op-ed explaining why they were bringing their lawsuit. The Dodd-Frank Act “violate[s] a bedrock rule of law: the Constitution’s separation of powers, which the Founders designed specifically to limit the growth of government.”

The case is State Nat’l Bank of Big Spring v. Lew, No. 12-5247 (D.C. Cir. July 24, 2015). BG&A is co-lead-counsel, with lawyers from the firm of O’Melveny & Myers.

Adam Gustafson

Author Adam Gustafson

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