Despite 1st Administrative Appeal, CFPB Seeks Out Courts
Law360, New York (June 18, 2015, 5:31 PM EDT) -- On June 4, 2015, Consumer Financial Protection Bureau Director Richard Cordray issued a decision in the first appeal of a CFPB administrative proceeding. The appeal to Director Cordray followed the CFPB's first administrative trial before an administrative law judge. The defendant, a mortgage lender, has vowed to appeal it further to the circuit court.[1] But despite the recent spotlight this matter has put on the CFPB's administrative process, the bureau has recently been filing more of its cases in federal court than ever before. This has important implications for the institutions under the CFPB's jurisdiction, and it may limit the impact of Director Cordray's decision on the statute of limitations in the recent appeal....
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