Fin. Comm’n of Tex. v. Norwood

A 2003 amendment to the Texas Constitution allowed the Legislature to delegate to a state agency the power to interpret certain provisions of the Constitution governing home equity lending. The state agency quickly issued final interpretations of the aforementioned provisions of the Constitution. Six homeowners then brought this action against the agency, challenging several of the interpretations. A bankers association intervened. The trial court invalidated many of the interpretations. The court of appeals affirmed in part and reversed in part. The Supreme Court affirmed in part and reversed in part, holding (1) the agency's interpretations of the provisions of the Constitution governing home equity lending were subject to judicial review; (2) the homeowners had standing to assert their claims; and (3) of the three interpretations at issue in this appeal, one was valid and two were invalid. View "Fin. Comm'n of Tex. v. Norwood" on Justia Law