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Cordray Hikes PHH Penalty To $109M In 1st Appeal Decision

By Evan Weinberger (June 4, 2015, 6:21 PM EDT) -- Consumer Financial Protection Bureau Director Richard Cordray on Thursday largely upheld an administrative law judge's finding that PHH Corp. engaged in a mortgage insurance kickback scheme but dramatically increased the firm's penalty to $109 million in the first appeal of a CFPB administrative action....

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