NEW YORK (AP) — A Texas federal decide on Thursday accused the foremost banking trade teams and U.S. Chamber of Commerce of venue procuring of their lawsuit in opposition to the Shopper Monetary Safety Bureau, a significant win for the federal regulator.The bureau had argued the one motive banks filed their lawsuit in Texas was to extend their probability of a positive ruling. Decide Mark Pittman dominated that the lawsuit needs to be transferred to Washington, the place the banking foyer has armies of legal professionals capable of deal with this case.“Venue will not be a continental breakfast; you can not choose and select on a Plaintiff’s whim the place and the way a lawsuit is filed,” Pittman wrote.The lawsuit offers with the CFPB’s new laws over bank card late charges, the place the typical late payment of a buyer can be capped at $8, down from the typical late payment of $32. The main banking teams had filed their lawsuit within the U.S. District Court docket within the Northern District of Texas. Trade and curiosity teams have typically filed lawsuits in opposition to the Biden administration there, as a consequence of its traditionally conservative judges.The banks have been pushing onerous to cease the late payment rule, as a result of potential billions the banks would lose in income. The bureau estimated when it issued the proposal that banks introduced in roughly $14 billion in bank card late charges a yr.In his ruling, Pittman discovered little motive why the foremost trade teams — the American Bankers Affiliation, Shopper Bankers Affiliation, and U.S. Chamber of Commerce, amongst others — had filed their lawsuit there. The one banking trade connection to the district was the Fort Price Chamber of Commerce, which solely just lately acquired a significant financial institution as a member.The CFPB had argued that Texas was an irrelevant place to file a banking trade regulation lawsuit, saying that Washington, with its location nearer to regulators and experience in trade regulation regulation, was extra applicable.Pittman agreed with the Biden administration.”In reality, so far as this Court docket can discern, not one of many banks or bank card corporations instantly affected by the longer term (CFPB laws) is situated within the Fort Price Division,” he stated.The American Bankers Affiliation and the Shopper Bankers Affiliation didn’t instantly return a request for remark.