Dodd-Frank Foes Can’t Show Credible Threat, U.S. Tells Judge

A legal challenge to the 2010 Dodd-Frank Act should be dismissed because opponents of the law overhauling financial regulation haven’t identified how they’re being harmed or alleged any “credible and imminent threat” of enforcement, the U.S. told a federal judge.

The Justice Department, in a filing today in Washington, said challenges to provisions of the law that empower the Treasury Secretary to order the liquidation of a financial company and to the appointment of Richard Cordray to head the Consumer Financial Protection Bureau are premature.