[author: Barbara S. Mishkin]

The long-anticipated Memorandum of Understanding between the state attorneys general and the CFPB to address information sharing seems to have hit a snag. It has been reported that a group of Republican state AGs have refused to sign the MOU and that, to date, AGs from only 12 states (11 of whom are Democrats) have signed the MOU.

The same report indicates that Republican state AGs from Oklahoma, South Carolina, Michigan and Kansas are planning to join a lawsuit that was filed this past June in federal court in Washington, D.C. challenging the constitutionality of Dodd-Frank. The plaintiffs in that lawsuit are State National Bank of Big Spring, Texas and two non-profit organizations in the metropolitan Washington, D.C. area.