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From Rachel Witkowski's article in American Banker:
The State National Bank of Big Spring will file a lawsuit Thursday afternoon in the U.S. District Court for the District of Columbia. The suit will challenge certain provisions in the Dodd-Frank Act as unconstitutional, with a focus on the creation of the CFPB. The Competitive Enterprise Institute and the 60 Plus Association will also join the case. The parties complained in a press release Thursday that there are "no checks and balances" in certain provisions of Dodd-Frank, while taking issue with the "unrestrained power" that the government gives to the CFPB.
Links:
[1] http://cei.org/other/cei-staff
[2] http://www.americanbanker.com/issues/177_120/texas-bank-to-take-lead-in-cfpb-lawsuit-1050307-1.html