By Matt Robinson and Elizabeth Dexheimer, Bloomberg News
A financial regulator long vilified by Republican lawmakers is facing new allegations that it’s exceeding its authority, this time by a hedge fund under investigation in part for legal settlements tied to a 1983 terrorist attack.
RD Legal Funding sued the Consumer Financial Protection Bureau in federal court Tuesday, arguing that the regulator sought to justify a probe into the firm by mischaracterizing its business as issuing loans. RD Legal occupies a niche in the hedge fund industry, offering law firms and plaintiffs money in return for future payouts tied to legal ...
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