Freeman V. Quicken — A Warning To The CFPB

Law360, New York (May 25, 2012, 1:41 PM EDT) -- The U.S. Supreme Court’s unanimous decision released May 24 in Freeman v. Quicken Loans Inc. marks a defeat for the Consumer Financial Protection Bureau in the interpretation of the Real Estate Settlement Procedures Act, but also serves to underscore that administrative agencies are not free to expand federal consumer protection statutes beyond the boundaries established by Congress. Just like the district court’s decision in the Premier Bank case, Freeman makes it clear that the industry can — and should — oppose the CFPB’s efforts to add...
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