WASHINGTON — A Texas bank's court challenge claiming that the Consumer Financial Protection Bureau is unconstitutional is wildly speculative and baseless, the Department of Justice said this week.

In a filing with the U.S. District Court for the District of Columbia, Justice said that the $285 million-asset State National Bank of Big Spring and its allies, which include three state attorneys general, lacked legal standing to file a lawsuit against CFPB and the Dodd-Frank law that created it.

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