CFPB claims PHH ruling was erroneous

While the CFPB has not made any public statements regarding the outcome of the PHH v. CFPB case that was handed down last week, the Bureau’s recent filing in an unrelated case has provided some insight into the CFPB’s opinion of the ruling. […]

By | 2016-10-20T00:00:02+00:00 October 20th, 2016|0 Comments

A closer look at DC Circuit’s CFPB Decision

Earlier this week, a three-judge panel held that the CFPB is unconstitutionally structured and that the agency violated due process principles when it retroactively applied its RESPA interpretations while pursuing an enforcement action against mortgage lender, PHH. The court vacated the Bureau’s ruling and remanded the case to the CFPB for reconsideration consistent with the [...]

By | 2016-10-14T00:00:11+00:00 October 14th, 2016|0 Comments

DC court finds CFPB structure unconstitutional

A three-judge panel on the DC Circuit Court of Appeals declared the CFPB structure unconstitutional. According to the panel, the Bureau violated the Constitution’s separation of powers doctrine because its sole director, Richard Cordray, is not sufficiently accountable to the president. In its decision, the court explained that CFPB’s single director leadership structure is unlike [...]

By | 2016-10-11T00:00:28+00:00 October 11th, 2016|0 Comments

Oral arguments in PHH appeal

On April 12, 2016, the US Circuit Court of Appeals for the District of Columbia held oral arguments in PHH Corporation v. Consumer Financial Protection Bureau (CFPB). PHH, a mortgage lender, is challenging the CFPB’s constitutionality as well as the Bureau’s interpretation of the Real Estate Settlement Procedures Act (RESPA). The [...]

By | 2017-07-07T02:52:26+00:00 April 13th, 2016|0 Comments