The city of Baltimore voluntarily dropped its lawsuit seeking to block the Consumer Financial Protection Bureau from transferring its reserve funds to Federal Reserve or the Treasury Department.
The CFPB has repeatedly stated it can use the money, obtained through Fed transfers, only to pay for agency operations and that it doesn’t have the power to send the funds back.
Because of those representations, Baltimore’s elected officials on Thursday filed a voluntary motion in the US District Court for the District of Maryland to dismiss the case without prejudice, meaning the plaintiffs could revive the lawsuit if the CFPB ultimately ...
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