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Private firm sues CFPB, challenges its constitutionality

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A lawsuit challenging the constitutionality of the newly established Consumer Financial Protection Bureau has been filed in federal court. The lawsuit was filed by Morgan Drexen, a Costa Mesa, Calif., company under CFPB pressure to turn over millions of private consumer files as part of the agency's controversial consumer surveillance program. CFPB is currently under fire from Congress for its...

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