States and Organizations Fight to Preserve Liberty from Dodd-Frank Act Intrusions

The Foundry reports:

The states of Michigan, Oklahoma, and South Carolina have sued the Obama Administration in the U.S. District Court for the District of Columbia over provisions of the Dodd-Frank Act that allow the government to seize financial institutions. Several private organizations joined in the legal complaint, to challenge also the constitutionality of the Act’s Consumer Finance Protection Bureau (CFPB) and the high-handed manner in which President Obama appointed the Bureau’s Director. The legal challenge by the states and private organizations seeks to enforce constitutional limits on the ever more intrusive federal government.