Items Tagged with 'CFPB vs. PHH'

ARTICLES

  • PHH gives up challenge to CFPB constitutionality

    Will not pursue case to Supreme Court
    The Court of Appeals for the District of Columbia Circuit’s stunning decision to reverse its earlier ruling and uphold the constitutionality of the Consumer Financial Protection Bureau will stand as the law of the land after PHH Corp. elected not to pursue the case to the Supreme Court.
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  • 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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  • 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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  • Monday Morning Cup of Coffee: Inside the battle brewing over Zillow's "Instant Offers"

    Plus, a judge shoots down Ocwen's challenge of CFPB constitutionality
    There's serious battle brewing over Zillow's "Instant Offers," a new program where homeowners looking to sell their home can get all-cash offers from selected investors. The program is putting Zillow at odds with some real estate professionals, who are fighting back against potentially being cut out of the transaction. Plus, what's happening between the CFPB and Ocwen? All that, and more, in your Monday Morning Cup of Coffee.
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  • Court of Appeals set to hear landmark challenge to CFPB constitutionality

    D-Day for CFPB coming this week
    The Consumer Financial Protection Bureau’s moment of truth (in the courtroom, at least) is coming this week as the full Court of Appeals for the District of Columbia Circuit is set to rehear the landmark challenge to the agency’s constitutionality brought by PHH Corp. Here's a breakdown of the case and a view of what's coming next.
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  • Ocwen pulls a PHH: Asks court to declare CFPB unconstitutional, requests DOJ help

    Asks court for expedited decision on CFPB constitutionality
    Ocwen Financial is pulling a PHH. Just as PHH did recently, Ocwen is playing the unconstitutional card in its fight against the Consumer Financial Protection Bureau, asking the United States District Court for the Southern District of Florida to declare the CFPB unconstitutional and toss out the CFPB’s lawsuit against the company.
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  • DOJ requests time during oral arguments in CFPB and PHH case

    Doesn’t fully align with either party
    The Department of Justice made headlines in March when it revealed that it switched sides in the landmark battle between the Consumer Financial Protection Bureau and PHH. While it now aligns with PHH, it doesn’t completely agree with the company’s position. As a result, it requested time in the oral arguments to give its unique stance.
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  • Hensarling to CFPB's Cordray: You deserve to be fired immediately

    Tells CFPB director to his face that he needs to go
    Never one to shy away from a chance to batter the Consumer Financial Protection Bureau, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, didn’t disappoint on Wednesday when Richard Cordray, the director of the CFPB, appeared before the committee. Hensarling was at his passive-aggressive best during his opening statement, poking at Cordray’s rumored political aspirations and telling Cordray, to his face, that he deserves to be fired by President Donald Trump.
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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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