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Comerica sues CFPB over investigation, raises old questions about bureau’s structure
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Consumer Protection, Industry Regulation
Tuesday, November 26, 2024
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The Consumer Financial Protection Bureau is being sued by Comerica Bank over the bureau’s multi-year investigation into the bank’s management of the Direct Express program, an offering sponsored by the U.S. Treasury Department. Comerica argued that since the bureau began its investigation in 2021, the bank has suffered substantial harm and the court should deem the probe unlawful.
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