Completing its First Year, U.S. Consumer Financial Bureau Sued by Small Texas Bank

From The Fort Worth Star-Telegram‘s Watchdog Bytes blog:

The filing of the lawsuit by a smaller bank seems to be a strategic move since most of the ire about the new climate of banking regulations in Washington seems directed at the large national banks. But smaller local banks say they are hurting, too, under the weight of the new regulatory requirements.

Joining the bank in the lawsuit are two conservative groups, the Competitive Enterprise Institute and the 60 Plus Association.

The lawsuit asks the court to invalidate certain portions of the new law that created the bureau, the 2010 Dodd-Frank financial overhaul act.

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