Pryor Cashman Counsel Dustin Nofziger, who is a member of the firm's Financial Institutions Group, was quoted in an American Banker article about a lawsuit filed by the Consumer Financial Protection Bureau (CFPB) against credit reporting agency TransUnion alleging that the company violated a 2017 CFPB consent order.
In “TransUnion fights CFPB ‘Groundhog Day' lawsuit,” Dustin notes that TransUnion's argument that the CFPB's complaint should be dismissed because the CFPB is funded in an unconstitutional manner could lead other targets of the agency to respond in a similar manner.
“Every company that is faced with a CFPB lawsuit alleging that it violated a consent order would move to dismiss or move for judgment…on the basis that the CFPB has been unconstitutionally funded,” says Dustin.
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Originally Published by American Banker
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