CFPB Ruling Adds New Front In Administrative Law Fight
By Evan Weinberger (June 11, 2015, 9:04 PM EDT) -- Consumer Financial Protection Bureau Director Richard Cordray's decision last week upholding an administrative ruling against PHH Mortgage Corp. and jacking up the firm's penalty highlights concerns industry has about the bureau's appeals process, and it adds to a growing battle over federal agencies' administrative proceedings.
Director Richard Cordray demonstrated the power he has as a sole adjudicator in a June 4 appeal decision. (Credit: AP) Cordray's June 4 decision in the PHH case marked the first time the bureau's administrative appeals process was put to the test. And the result highlighted both the power that Cordray has as sole adjudicator in...
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