Items Tagged with 'CFPB lawsuit'


  • Court of Appeals rules against CFPB, vacates PHH’s $100M fine for alleged RESPA violations

    It wasn’t a sweeping victory for the CFPB after all
    While the main story coming out of Wednesday’s stunning decision from the Court of Appeals for the D.C. Circuit was the court upholding the constitutionality of the CFPB, the bureau didn’t escape unscathed. The full Court of Appeals upheld the court’s earlier decision that former CFPB Director Richard Cordray far exceeded his authority as director when he handed down a seven-figure fine against PHH for RESPA violations.
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  • Freedom Debt Relief: CFPB “fundamentally misunderstands” debt settlement process

    Nation’s largest debt settlement services provider will fight CFPB lawsuit
    Last week, the CFPB sued Freedom Debt Relief, the nation’s largest debt settlement services provider, claiming that the company repeatedly lied to its customers about the company’s ability to negotiate debt settlements. Freedom, on the other hand, claims that the CFPB “fundamentally misunderstands” the debt settlement process and says that it plans to “vigorously contest” the CFPB lawsuit.
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  • DOJ will be allowed to join Ocwen’s challenge to constitutionality of CFPB

    Judge grants Ocwen’s request to have Justice Department weigh in
    Ocwen Financial could soon get a big boost in its fight against the Consumer Financial Protection Bureau from a once-unlikely source – the Department of Justice. Earlier this week, the judge overseeing the case ruled that the DOJ will be allowed to join Ocwen's case and weigh in on the constitutionality of the CFPB it if chooses to.
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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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  • 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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  • What happens now that the CFPB appealed its "unconstitutional" ruling?

    Compass Point on the next steps in the PHH legal battle
    As expected, the Consumer Financial Protection Bureau last week appealed the U.S. Court of Appeals ruling that declared the agency’s leadership structure unconstitutional and vacated a $103 million increase to a $6 million fine levied against PHH. So what happens now? First, the wait begins for the court to determine whether it wants to hear the case en banc or not. But just how long is that wait going to be? And what does it mean in the interim?
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  • CFPB fights back against "unconstitutional" ruling; asks court to rehear PHH case

    Embattled agency asks for full Court of Appeals review
    The Consumer Financial Protection Bureau is not ready to give up in its fight against PHH. The case started when the bureau added $103 million to a $6 million fine against PHH for allegedly illegally referring consumers to mortgage insurers in exchange for kickbacks. PHH sued, and the CFPB’s leadership structure was eventually declared unconstitutional by the United States Court of Appeals for the District of Columbia Circuit. On Friday, the CFPB asked the full court to rehear the case.
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  • CFPB pushes to expose anonymous companies that sue it

    Legal battle erupts over naming plaintiffs
    Arguing that companies that sue it should not be granted anonymity, the Consumer Financial Protection Bureau is asking a federal judge to reveal the names of several companies that are anonymously suing the agency after a lawyer representing the group was denied entry into an investigative hearing.
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