Can Trade Groups Sue to Overturn Rules? Chopra -- and Justice Thomas -- Say No

Also, strange bedfellows back Virtu's call for SEC action on penny stocks; Bloomberg responds to ABA pushback on data standard; FDIC hires consultant for workplace fixes

Could Clarence Thomas save the CFPB’s rules? Rohit Chopra is hoping for it.

Like most of his fellow financial regulators, Chopra is facing a barrage of lawsuits from trade associations seeking to overturn policies he’s adopted. The challenges, which seem to have metastasized during the Biden administration, are part of the standard Washington playbook: f…