Chamber, Trade Groups Sue CFPB Over Anti-Discrimination Policy (1)

The US Chamber of Commerce and banking industry groups sued to stop the Consumer Financial Protection Bureau’s policy that would allow the agency to bring discrimination claims against financial firms on products and services that aren’t protected by fair lending laws.

The CFPB’s recently introduced policy of allowing examiners and enforcement attorneys to sue companies for possible discrimination in checking and saving accounts openings, international remittances and other products exceeded the agency’s authority, according to a Wednesday complaint filed in the US District Court for the Eastern District of Texas by the trade groups. The plaintiffs also included the American ...