The CFPB has received its first opinion from a federal court regarding the validity of a rule it was tasked with enforcing.  In a September 23, 2011 opinion, the U.S. District Court for the District of South Dakota held that the revised version of Regulation Z, § 226.52, promulgated by the Federal Reserve Board, was likely to be invalid because it conflicted with the plain language of the CARD Act. … Continue Reading