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Items Tagged with 'CFPB vs. PHH'

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Monday Morning Cup of Coffee: Trump tapping familiar face to lead DOJ's civil division?

What will become of False Claims Act charges under new leader?
It looks like President Donald Trump is about to install a familiar face as the leader of the Department of Justice’s civil division. If that happens, what happens to the DOJ's recently preferred tactic of using the False Claims Act to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration? The answer, and more, in your Monday Morning Cup of Coffee.
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In major reversal, U.S. sides with PHH, calls CFPB structure unconstitutional

DOJ asks court to give president authority to fire CFPB director at will
Recently, the U.S. government began to give off indications that it might be switching sides in the landmark battle between the CFPB and PHH, signaling that the Trump administration would not be as supportive of the CFPB as the Obama administration had been. And Friday, that's exactly what happened. Click the headline for the full story.
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PHH urges Court of Appeals to kill CFPB

Argues CFPB constitutional issues go well beyond director’s authority
PHH wants the full Court of Appeals for the District of Columbia Circuit to do more than simply declare the leadership structure of the Consumer Financial Protection Bureau unconstitutional; it wants the Court of Appeals to kill the CFPB altogether.
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United States flips sides, supports PHH in case against CFPB

Case now falls under Trump administration
In a major, but not surprising move, the United States revealed that it now supports PHH in its landmark case against the Consumer Financial Protection Bureau. Judging by a new motion filed by the United States, the U.S. needs a little more time to gather its thoughts on supporting PHH.
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White House spokesperson: Trump believes CFPB is "unaccountable"

WSJ reports that President Trump disagrees with Court of Appeals ruling
Given the Trump administration’s recent maneuvering to fire Consumer Financial Protection Bureau Director Richard Cordray, it’s probably not a surprise that President Donald Trump disagrees with the U.S. Court of Appeals for the District of Columbia Circuit’s decision to rehear a challenge to the CFPB’s constitutionality.
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Court of Appeals agrees to rehear CFPB case, agency to fight "unconstitutional" ruling

Full court will rehear PHH case
If President Donald Trump wants to fire Consumer Financial Protection Bureau Director Richard Cordray, he’s going to have to wait a little longer to do it, as the U.S. Court of Appeals for the District of Columbia Circuit ruled Thursday in favor of the CFPB. The ruling allows the embattled agency to defend the constitutionality of its leadership structure.
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Court denies Democrats' push to defend CFPB

Could the next stop be a decision on the CFPB’s petition?
The landmark case between the Consumer Financial Protection Bureau and PHH is still waiting for a decision on the CFPB’s petition for rehearing en banc. In the meantime, Democratic state attorneys general, Senators and consumer advocacy groups have kept PHH’s lawyers busy. However, the three groups received an answer on their motions to intervene: It was “no” across the board.
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Senate Republicans unveil bill to replace CFPB director with committee

Will the third time be the charm?
Sens. Deb Fischer, R-Nebraska; John Barrasso, R-Wyoming; and Ron Johnson, R-Wisconsin, introduced a bill this week that would replace the single director of the CFPB with a five-member bipartisan committee, a change the Republican Party has long pushed for. According to Fischer's office, this is actually the third version of this bill, which she previously introduced in 2015 and 2016 to no avail. But will the third time be the charm?
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Monday Morning Cup of Coffee: Two senators join battle between the CFPB and PHH

Chronos Solutions launches National Title Operations Center
While the landmark case between PHH and the Consumer Financial Protection Bureau awaits a decision on whether the full Court of Appeals will rehear the case, more politicians are publicly voicing their support for the bureau. So what’s the big reason for the added support? The new Trump administration. Meanwhile, Chronos Solutions’ new CEO announcement on Friday isn’t the company's only news.
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