News & Analysis as of

Statutory Interpretation Consumer Financial Protection Bureau (CFPB) Real Estate Settlement Procedures Act

Husch Blackwell LLP

Preview of a Post-Chevron World: The Seventh Circuit Upholds Regulation B's Discouragement Prohibition as Consistent with ECOA

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With Loper Bright’s recent death blow to Chevron deference, some commentators have been predicting substantial constriction of the administrative state and the narrowing or limiting of the powers of federal regulators. For...more

Manatt, Phelps & Phillips, LLP

Enforcement: PHH Suit Gone but Other Enforcement Activity Continues

As the Consumer Financial Protection Bureau (CFPB or Bureau) withdraws from enforcement, activity continues in the courts and with certain other regulators. In Texas, a federal court denied a stay of the looming compliance...more

Ballard Spahr LLP

CFPB dismisses PHH case

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As expected, CFPB Acting Director Mick Mulvaney has signed an order directing that the Notice of Charges filed against PHH be dismissed and terminating the matter.  The order indicates, that in dismissing the matter, Mr....more

Ballard Spahr LLP

CFPB expected to dismiss PHH case

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American Banker has reported that that CFPB is planning to dismiss its lawsuit against PHH.  According to the American Banker report, the CFPB and PHH have issued a joint statement in which the parties confirm that they have...more

Ballard Spahr LLP

D.C. Circuit Rules CFPB's View of RESPA Was Wrong but Its Structure is Constitutional

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On January 31, 2018, the en banc D.C. Circuit handed down its opinion in the PHH v. CFPB case, which we've discussed at length. It held, 7 to 3, that the CFPB's single-director-removable-only-for-cause structure is...more

Dorsey & Whitney LLP

D.C. Circuit Upholds CFPB’s Constitutionality: Why the PHH Case Underscores the Importance of Internal Agency Discipline

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On January 31, the U.S. Court of Appeals for the D.C. Circuit issued a plurality opinion en banc that confirmed the constitutionality of the Consumer Financial Protection Bureau’s (“CFPB”) governance by a sole Director, while...more

Ballard Spahr LLP

D.C. Circuit Rules CFPB’s View of RESPA Was Wrong But its Structure is Constitutional

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On January 31, 2018, the en banc D.C. Circuit handed down its opinion in the PHH v. CFPB case, which we’ve discussed at length. It held, 7 to 3, that the CFPB’s single-director-removable-only-for-cause structure is...more

Bricker Graydon LLP

PHH’s hidden gem

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The long-awaited en banc decision in PHH Corp., v. CFPB has finally been issued. The Court of Appeals for the D.C. Circuit upheld the constitutionality of the Consumer Financial Protection Bureau (CFPB) and reversed a prior...more

Goodwin

Long-awaited Decision in PHH Corp. v. Consumer Financial Protection Bureau

Goodwin on

On January 31, 2018, the U.S. Court of Appeals for the D.C. Circuit, sitting en banc, issued its long-awaited decision in PHH Corp. v. CFPB, holding that the provision of the Dodd-Frank Act shielding the single director of...more

Morrison & Foerster LLP

PHH v. CFPB: Beyond the Headlines, A Big Win For Industry

There was something for everyone in the long-awaited decision from the en banc D.C. Circuit in PHH Corp. v. CFPB. In the part of the decision that has garnered widespread attention, the D.C. Circuit held that the structure of...more

Ballard Spahr LLP

Kerfuffle on statute of limitations issue in PHH case

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On June 7, the CFPB submitted a Rule 28(j) letter to the D.C. Circuit in the PHH case. In the letter, the CFPB embraced the fact that the Supreme Court’s recent Kokesh v. SEC decision makes the five-year statute of...more

Ballard Spahr LLP

D.C. Circuit Publishes Transcript of PHH v. CFPB Oral Arguments

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On June 6, 2017, the D.C. Circuit published the 85-page transcript of the May 24, 2017 oral arguments in the PHH v CFPB case...more

Ballard Spahr LLP

D.C. Circuit poised to decide constitutionality of CFPB structure in PHH case

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On May 24, 2017, the US Court of Appeals for the D.C. Circuit (D.C. Circuit) held oral argument in the PHH case, which we have blogged about extensively. The constitutionality of the CFPB’s structure was the central issue at...more

Ballard Spahr LLP

Richard Cordray’s tenure as CFPB Director is uncertain

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Clients are always asking me and others in our Consumer Financial Services Group about how long Richard Cordray will remain as CFPB Director. The short answer is nobody knows, perhaps not even Richard Cordray. ...more

Ballard Spahr LLP

The Framers did not rest our liberties on “bureaucratic minutiae,” PHH argues

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PHH filed its reply brief with the D.C. Circuit on April 10 in the en banc rehearing of the PHH case. We have blogged extensively about the case since its inception. Central to the case is whether the CFPB’s...more

Ballard Spahr LLP

Director Corday’s appearance before House Committee: strong on theater, weak on substance

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Despite its long duration (over five hours including a recess for a vote), the House Financial Services Committee’s hearing on April 5 at which Director Cordray was the sole witness provided a strong dose of political theater...more

Ballard Spahr LLP

DOJ seeks leave to participate in PHH en banc rehearing oral argument

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The Department of Justice, with the consent of PHH and the CFPB, has filed an unopposed motion with the D.C. Circuit requesting ten minutes of argument time in the oral argument to be held on May 24, 2017 in the rehearing en...more

Ballard Spahr LLP

CFPB Says Individual Liberty is Not a Relevant Consideration in the Constitutional Analysis of its Structure

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On March 31, the CFPB and supporting amici submitted their briefs in the en banc rehearing of the PHH case. We have blogged extensively about the PHH case in which the D.C. Circuit is grappling with four critical issues: (i)...more

Ballard Spahr LLP

Consumer advocacy groups, members of congress, and legal scholars file amicus briefs in support of the CFPB’s constitutionality

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Several individuals and organizations filed amicus briefs in support of the CFPB in the en banc rehearing in the PHH case. Among the amici is a brief filed by current and former members of Congress, including Chris Dodd and...more

Bilzin Sumberg

The New Administration's Plans for the CFPB Take Shape

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For those who have been wondering—as I did in a previous post—what the new presidential administration would mean for the Consumer Financial Protection Bureau (CFPB), an agency that has been in Republicans’ crosshairs...more

Stinson - Corporate & Securities Law Blog

Justice Department Tells Court CFPB is Unconstitutional

The Department of Justice has filed an amicus brief in the case of PHH Corp. v. Consumer Financial Protection Bureau pending before the United States Court of Appeals for the District of Columbia Circuit and is scheduled for...more

Ballard Spahr LLP

Trump’s DOJ supports striking Cordray’s removable-only-for-cause protection from Dodd-Frank

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The DOJ submitted its amicus brief in the PHH case on Friday, March 17.  We have blogged extensively about this case since its inception. Unsurprisingly, the Trump DOJ supports striking from Dodd-Frank the...more

Hinshaw & Culbertson LLP

Three Things You Missed Since CFPB Received En Banc Hearing in PHH Case

All eyes are on the future of the CFPB as it fights for its existence in the D.C. Circuit Court of Appeals through the matter, PHH Corp. et al. v. Consumer Financial Protection Bureau. On February 16, the D.C. Circuit agreed...more

Ballard Spahr LLP

PHH files opening en banc brief; seven supporting amicus briefs filed

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On Friday, PHH filed its opening en banc brief with the D.C. Circuit in the rehearing of its appeal of Director Cordray’s June 2015 decision that affirmed an administrative law judge’s (ALJ) recommended decision concluding...more

Ballard Spahr LLP

D.C. Circuit grants motion of U.S. for leave to file amicus brief in PHH by March 17; denies motions to intervene

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The D.C. Circuit has entered an order granting the unopposed motion of the United States for leave to file an amicus brief in PHH by March 17, 2017.  As we previously observed, the motion appears to signal the DOJ’s intention...more

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