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ABA: The American Bankers Association
Amicus Brief

ABA's Reply Brief

Texas Bankers Association; Rio Bank, McAllen, Texas; American Bankers Association; Texas First Bank; Independent Bankers Association of Texas; Independent Community Bankers of America, Plaintiffs-Appellants,

v. Consumer Financial Protection Bureau; Rohit Chopra, in his official capacity as Director of the Consumer Financial Protection Bureau, Defendants-Appellees,

v. Texas Farm Credit; Farm Credit Council; Capital Farm Credit, Intervenor Plaintiffs-Appellants, 

XL Funding, L.L.C.; Equipment Leasing and Finance Association; Rally Credit Union; Credit Union National Association; Cornerstone Credit Union League, Intervenors-Appellants.

INTRODUCTION

The CFPB’s brief confirms that the CFPB breached the limits of its statutory authority when promulgating the Rule and did so without engaging in reasoned decision-making.

On statutory authority, the CFPB takes the position that Congress granted it virtually limitless authority to collect any information the CFPB wishes. But the statute does not grant the CFPB such boundless authority. As the plain text demonstrates, when Congress granted the CFPB authority to require that small-business lenders itemize “additional data,” it was speaking to information within the loan application and information about the decision on the loan application. Congress granted no authority to collect pricing information or an applicant’s LGBTQI+ status.

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