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State National Bank of Big Spring, Texas hit a major roadblock in its fight against the Consumer Financial Protection Bureau after a judge on Tuesday threw out its motion to intervene in the landmark case between PHH and the CFPB.
The motion was a new plan from the bank, along with Competitive Enterprise Institute, which advocates for limited government, and the 60 Plus Association, a nonprofit that represents the interests of senior citizens, to get its case heard by the court after being in limbo since about July 2016.
Back in 2012, State National Bank filed suit against the federal government, claiming that the CFPB’s “unprecedented, unchecked power” violates the Constitution’s separation of powers.