On May 4, 2023, Compliance Resource blogged on the lawsuit challenging Section 1071 final rule, released by the CFPB in March of this year. The CFPB filed an opposition to the lawsuit in June claiming the plaintiffs have not established their standing for relief or that venue is proper in the Southern District of Texas because: Rio Bank alleged in the complaint that it made 409 small business and agricultural loans in 2022, per the […]
