The D.C. Circuit has revived a challenge to the constitutionality of the Dodd-Frank Act. A small Texas bank, State National Bank of Big Spring, had challenged the constitutionality of the Wall Street Reform Act. It was joined by 11 states, who also took issue with the Act.
Dod-Frank, you'll remember, was passed in 2010 in an effort to reform the banking industry and prevent a repeat of the financial collapses that began the "Great Recession" of 2007 to 2009. The district court had tossed the challenge, arguing that the bank and States had no standing, but the D.C. Circuit disagreed, breathing new life into at least half the claims.