Reconsidering CFPB V. PHH

Law360, New York (February 17, 2017, 8:45 AM EST) -- Eric J. Mogilnicki

Andrew M. Smith The tortuous path of the Consumer Financial Protection Bureau’s enforcement action against PHH Corporation took another twist this week, as the U.S. Court of Appeals granted the CFPB’s petition for rehearing and vacated a panel opinion that sharply criticized the agency and found its structure unconstitutional. If the court had declined to act, President Donald Trump would have had a clear path to firing CFPB Director Richard Cordray. Instead, the court’s action creates fresh uncertainty about the scope and shape...
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