A three judge panel of the U.S. Court of Appeals for the Fourth Circuit (Fourth Circuit) recently held in Baehrs v. The Creig Northrop Team et al that although the plaintiffs had alleged a violation of the Real Estate...more
Neither PHH Corporation nor the CFPB has filed a petition for certiorari asking the U.S. Supreme Court to review the D.C. Circuit’s en banc PHH decision. The filing deadline was May 1....more
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
4/7/2017
/ Administrative Proceedings ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
ECOA ,
Minority-Owned Businesses ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Richard Cordray ,
Single Director ,
Statutory Interpretation ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Women-Owned Businesses
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
4/6/2017
/ Administrative Proceedings ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation
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
3/14/2017
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Amicus Briefs ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Mortgages ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation
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
3/9/2017
/ Administrative Proceedings ,
Amicus Briefs ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Motion for Leave ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation
The United States, at the Solicitor General’s request, has filed an “unopposed motion” with the D.C. Circuit for leave to file an amicus brief in PHH by March 17, 2017. The motion states that both PHH and the CFPB have...more
3/6/2017
/ Administrative Proceedings ,
Amicus Briefs ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
En Banc Review ,
Motion for Leave ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation
PHH has filed a response opposing the motion of the plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew to intervene in the en banc rehearing. The D.C. Circuit granted the CFPB’s petition for en banc...more
2/28/2017
/ Administrative Proceedings ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation
The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have filed a "Motion To Intervene In Any En Banc Proceeding That May Be Granted" in the PHH case. The motion follows the D.C. federal district court's...more
2/27/2017
/ Administrative Proceedings ,
Banking Sector ,
Case Consolidation ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Recess Appointments ,
Removal For-Cause ,
RESPA ,
Richard Cordray ,
Single Director ,
Statutory Interpretation
The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have filed a “Motion To Intervene In Any En Banc Proceeding That May Be Granted” in the PHH case. The motion follows the D.C. federal district court’s...more
2/16/2017
/ Administrative Proceedings ,
Banking Sector ,
Banks ,
Case Consolidation ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Popular ,
Removal For-Cause ,
RESPA ,
Richard Cordray ,
Single Director ,
Statutory Interpretation ,
Summary Judgment
After the D.C. Circuit panel issued a per curiam order on February 2 denying the three motions to intervene that were filed in the PHH case, we expected the next development in the case to be a decision by the D.C. Circuit on...more
2/13/2017
/ Administrative Proceedings ,
Article II ,
Attorney General ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
Mortgages ,
Motion for Reconsideration ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation ,
Trump Administration
The D.C. Circuit panel that issued the PHH decision last October has issued a per curiam order denying the three motions to intervene that were filed in the case last month....more
2/3/2017
/ Administrative Proceedings ,
Attorney General ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation
PHH has filed a response in opposition to the motion filed with the D.C. Circuit by Democratic lawmakers Senator Sherrod Brown and Representative Maxine Waters to intervene in the PHH appeal. The lawmakers are, respectively,...more
2/2/2017
/ Administrative Proceedings ,
Article III ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Standing ,
Statutory Interpretation
This past Friday, PHH filed a supplemental response to the CFPB’s petition for en banc rehearing and a response opposing the motion filed by Democratic Attorneys General of 16 states and the District of Columbia to intervene...more
1/31/2017
/ Administrative Proceedings ,
Attorney General ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Services Committee ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Senate Banking Committee ,
Single Director ,
Statutory Interpretation
This past Monday, the Democratic Attorneys General of 16 states and the District of Columbia filed a motion with the D.C. Circuit seeking to intervene in the PHH appeal. Today, two more motions to intervene were filed. One...more
1/27/2017
/ Administrative Proceedings ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Services Committee ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Senate Banking Committee ,
Single Director ,
Statutory Interpretation ,
Trump Administration
The Democratic Attorneys General of 16 states and the District of Columbia have filed a motion with the D.C. Circuit seeking to intervene in the PHH appeal. The states are Connecticut, Delaware, Hawaii, Illinois, Iowa,...more
1/26/2017
/ Administrative Proceedings ,
Attorney General ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Motion To Intervene ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation ,
Trump Administration
According to a Law360 report, the D.C. federal district court has denied the request of the plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew, et al. to consolidate their case with PHH on appeal to the...more
1/20/2017
/ Administrative Proceedings ,
Banking Sector ,
Banks ,
Case Consolidation ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation ,
Summary Judgment
As rumors swirl that President-elect Trump is planning to remove Director Cordray immediately after January 20th, conflicting views have emerged about his authority to do so before the appeal in PHH is resolved. We...more
1/17/2017
/ Administrative Proceedings ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Richard Cordray ,
Single Director ,
Statutory Interpretation ,
Trump Administration
The CFPB has published a final rule to adjust for inflation the civil penalties within its jurisdiction. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990 which, pursuant to a 2015...more
1/13/2017
/ Banking Sector ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 ,
Federal Civil Penalties Inflation Adjustment Act of 1990 ,
Final Rules ,
Inflation Adjustments ,
OMB ,
RESPA ,
SAFE Act ,
Truth in Lending Act (TILA)
The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew, et al. want the D.C. federal district court to hold a status conference to determine how their case “can be most efficiently adjudicated” in light of...more
PHH has filed a reply to the CFPB’s opposition to PHH’s motion for leave to file a supplemental response to the CFPB’s petition for rehearing en banc. On December 22, PHH and the United States filed responses to the CFPB’s...more
12/30/2016
/ Administrative Proceedings ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
Motion for Leave ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation
The CFPB has opposed the motion filed by PHH for leave to file a supplemental response to the CFPB’s petition for rehearing en banc. On December 22, PHH and the United States filed responses to the CFPB’s petition with the...more
12/28/2016
/ Administrative Proceedings ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
Motion for Leave ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Solicitor General ,
Statutory Interpretation
PHH and the United States have filed responses with the D.C. Circuit to the CFPB’s petition for rehearing en banc. The D.C. Circuit invited the Solicitor General to file a response expressing the views of the United States...more
12/27/2016
/ Administrative Proceedings ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
HUD ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Solicitor General ,
Statutory Interpretation
Politico has reported that CFPB Communications Director Jen Howard has indicated in an e-mail that Director Cordray has no current plans to leave the CFPB. According to Politico, Ms. Howard stated “Director Cordray was...more
The D.C. Circuit has entered an order that provides the response of the United States to the CFPB’s petition for rehearing en banc is due by December 22, 2016. The order also provides that PHH can file its response by...more
12/13/2016
/ Administrative Proceedings ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Solicitor General ,
Statutory Interpretation