As CPW’s Keith Bradley and Corey McGehee explain in a must-read article published in Law360, just before New Year’s Eve, the U.S. District Court for the District of Columbia invalidated two provisions in the Consumer Financial Protection Bureau’s rules for prepaid accounts. So far as we know, this case marks the first time any court has invalidated a bureau rule, in the 10 years since the bureau’s founding. It is notable on that account alone.  What is more striking is how the court dealt with one of the new authorities that the Dodd-Frank Act granted to the bureau. If the court’s approach holds up on appeal, the bureau may have less expansive authority than it had seemed.  Read their article here (no paywall): Law360 – PayPal Prepaid Accounts Ruling May Curtail CFPB Authority