Court: No immediate injunction blocking CFPB credit card rule

A Texas federal judge announced on Wednesday that he will not issue an immediate injunction halting implementation of the Consumer Financial Protection Bureau’s credit card late fee final rule, delivering a stinging rebuke to trade groups who had requested immediate action.

Judge Mark T. Pittman of the U.S. District Court for the Northern District of Texas told the U.S. Chamber of Commerce, the American Bankers Association and state trade groups that his court has one of the busiest dockets in the country.

“Given these statistics, the Court does not have the luxury to give increased attention to certain cases just because a party to the case thinks their case is more important than the rest,” Pittman wrote, in denying the request. “There are simply too many cases that demand the Court’s full attention.”

The CFPB and government attorneys had argued that the banking and business groups had chosen Pittman’s court for a specific reason: Texas federal courts have tended to be more friendly to business interests. Pittman had asked the trade groups to explain why the case challenging the rule was filed in his court, noting that only one plaintiff has even a remote tie to Texas.

 

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