Attorneys General From Eight States Join Dodd-Frank Lawsuit

What's Next In Payments®
4:09 PM EDT February 17th, 2013

Attorney general from eight states have joined a lawsuit challenging the constitutionality of Dodd-Franks’s order liquidation authority, notes BankCreditNews.com.

“The state of Texas is challenging Dodd-Frank because it gives too much power to the federal government—and puts taxpayer dollars at risk,” Texas Attorney General Greg Abbott said. “Under this law, unelected federal bureaucrats are empowered to unilaterally liquidate financial institutions in which the state invests taxpayer dollars. This unprecedented regime deprives the State of Texas of basic due process rights and places taxpayers’ resources at risk.”

The attorneys general are all Republicans and hail from the states of Alabama, Georgia, Kansas, Montana, Nebraska, Ohio, Texas and West Virginia.

Read the full story here.

Comments
Also by This Author
What's Hot
News
Square Launches Register App Platform
News
Etsy Debuts mPOS Solution
Merchant Innovation
Ron Johnson’s New Company To Focus On Shopper Decisions
B2B Payments
WEX and Sinclair Oil Strike Long Term Contract
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Tungsten Spent $6.5 Million for DocuSphere
Company Spotlight
Inside the Future of Commerce, Post Apple Pay
Alternative Financial Services
Death Threats, Fraudsters and Lawsuits
News
How to Overcome the 10 Most Common Cyber Threats
View All Articles ››