The ruling was made public yesterday. Here's more from Reuters:
U.S. District Judge Paul Gardephe in Manhattan said the Lower East Side People’s Federal Credit Union lacked legal authority to sue, rejecting what he called the plaintiff’s “fear-based theory of standing.”
Gardephe said the credit union failed to show that any actual or expected policy changes under Mulvaney, who is also White House budget chief, would undermine its ability to fulfill its mission of improving the health of underserved communities.
“Organizations advocating for a particular policy goal who have alleged no injury to themselves as organizations may not establish their standing simply on the basis of that goal,” Gardephe wrote. His decision is dated Thursday.
A lawyer for the Credit Union told Reuters: "We are evaluating our options in this extremely important case."
In early December, the Credit Union accused the President in a complaint of "an illegal hostile takeover of the CFPB." You can read more on the challenge here.
The Lower East Side People’s Federal Credit Union was founded in 1986. Today, it has nearly 8,500 members as well as locations in East Harlem and on Staten Island.
