Texas federal judge transfers lawsuit against CFPB's credit card late fee regulations to Washington, D.C., accusing banks of "venue shopping."
Texas federal judge accuses banks of "venue shopping" in lawsuit against CFPB, transfers case to Washington, D.C. The lawsuit, filed by major banking industry groups and the US Chamber of Commerce against the Consumer Financial Protection Bureau (CFPB), challenges the CFPB's new credit card late fee regulations, which aim to cap late fees at $8. The judge argues that venue should be based on the location of the underlying events, as Washington, D.C. is home to most of the business groups suing, lawyers representing them, and the CFPB.
March 28, 2024
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