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More states challenge constitutionality of Dodd-Frank, CFPB
Eight states are joining three others already participating in a lawsuit to challenge the Dodd-Frank Act and the Consumer Financial Protection Bureau. Alabama, Georgia, Kansas, Montana, Nebraska, Ohio, Texas and West Virginia allege that Dodd-Frank burdens community banks and gives unelected people too much power. Oklahoma, South Carolina and Michigan in September joined a lawsuit filed by the 60 Plus Association, the Competitive Enterprise Institute and a Texas bank.
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