News & Analysis as of

Due Process Dodd-Frank Wall Street Reform and Consumer Protection Act PHH Corp. v CFPB

Carlton Fields

Structure Of CFPB Found To Be Unconstitutional But Agency Survives With Cut To Director’s Power

Carlton Fields on

The DC Circuit Court of Appeals recently held that the single-director structure of the Consumer Financial Protection Bureau (“CFPB”) was unconstitutional, and gave the President the authority to fire the director at will in...more

A&O Shearman

US Court of Appeals for the DC Circuit Declares Structure of the US Consumer Financial Protection Bureau Unconstitutional

A&O Shearman on

The US Court of Appeals for the DC Circuit declared the structure of the US Consumer Financial Protection Bureau unconstitutional, stating that the “massive, unchecked power” exercised by its director, Richard Cordray, lacks...more

Bradley Arant Boult Cummings LLP

D.C. Circuit Court Finds the CFPB Misinterpreted Section 8 of RESPA and Violated Due Process with Retroactive Application

The D.C. Circuit Court issued its long-awaited opinion in PHH Corporation v. Consumer Financial Protection Bureau, No. 15-1177 (D.C. Cir., filed 2015) regarding the constitutionality of the Consumer Financial Protection...more

Ballard Spahr LLP

CFPB Deputy Enforcement Director mum on whether CFPB will seek further review of PHH decision

Ballard Spahr LLP on

During the “Developments at the CFPB” panel this morning at the Pennsylvania Bar Institute Consumer Financial Services & Banking Law Update program in Philadelphia, Jeffrey Ehrlich, the CFPB’s Deputy Enforcement Director,...more

Ballard Spahr LLP

What the D.C. Circuit’s PHH decision means for CFPB rulemaking

Ballard Spahr LLP on

In its decision last week in PHH Corporation v. CFPB, the D.C. Circuit ruled that the CFPB’s single-director-removable-only-for-cause structure is unconstitutional. While the D.C. Circuit (in footnote 19) noted that it “need...more

WilmerHale

D.C. Circuit Delivers a Major Setback to the CFPB

WilmerHale on

On October 11, the D.C. Circuit issued a major decision holding the structure of the Consumer Financial Protection Bureau (CFPB) unconstitutional and sharply limiting the CFPB’s enforcement powers. The decision granted a...more

Dechert LLP

Court of Appeals Says CFPB Is Unconstitutional; Rejects Agency Effort to Apply New Interpretation of Law Retroactively

Dechert LLP on

The courts are now reacting to what some view as regulatory overreach flowing from U.S. laws enacted in the wake of the financial crisis. The most recent example is the October 11, 2016 decision of the U.S. Court of Appeals...more

Burr & Forman

D.C. Circuit Holds Structure of CFPB Unconstitutional, Vacates $109 Million Fine Arising out of Mortgage Lender’s “Captive...

Burr & Forman on

On Tuesday the D.C. Circuit Court of Appeals issued what is already being touted as a landmark ruling in PHH Corp. v. Consumer Financial Protection Bureau, No. 15-1177, 2016 WL 5898801 (D.C. Cir. Oct. 11, 2016), holding in a...more

Morrison & Foerster LLP

CFPB Hit by Major Setback in D.C. Circuit

Morrison & Foerster LLP on

In a decision eagerly awaited by the financial services industry, the D.C. Circuit this week handed the Consumer Financial Protection Bureau (CFPB) a major defeat, throwing out a mortgage lender’s $109 million disgorgement...more

King & Spalding

D.C. Circuit Rules CFPB’s Structure Unconstitutional

King & Spalding on

In a news-making decision with significant political implications, but probably limited near-term business or legal effects, the United States Court of Appeals for the District of Columbia Circuit held on Tuesday, October 11,...more

Cadwalader, Wickersham & Taft LLP

D.C. Circuit Brings CFPB under Presidential Control

On October 11, 2016, the United States Court of Appeals for the D.C. Circuit issued its long-awaited opinion in PHH Corp. v. Consumer Financial Protection Bureau, in which the Court held that the structure of the Consumer...more

Buchalter

Leadership Structure of CFPB Ruled Unconstitutional

Buchalter on

The United States Court of Appeals for the District of Columbia Circuit issued its ruling in PHH Corporation v. Consumer Financial Protection Bureau on Tuesday and determined that the single-director structure of the CFPB...more

Kilpatrick

Key Consumer Finance Takeaways from the DC Circuit’s PHH Decision

Kilpatrick on

On October 11, 2016, the United States Court of Appeals for the District of Columbia Circuit issued a highly-anticipated decision in PHH Corporation, et al., v. Consumer Financial Protection Bureau that has far reaching...more

Carlton Fields

A Truckload of Trouble for the CFPB

Carlton Fields on

Within days after the Consumer Financial Protection Bureau started operations, a truckload of boxes from the Department of Housing and Urban Development arrived at the CFPB Office of Enforcement. The boxes held evidence from...more

Ballard Spahr LLP

D.C. Circuit Holds CFPB Structure Unconstitutional, Interpretation of RESPA Not Entitled to Deference

Ballard Spahr LLP on

The D.C. Circuit yesterday issued its long-awaited decision in PHH Corporation v. CFPB. In reversing the decision of Consumer Financial Protection Bureau (CFPB) Director Cordray to impose an enhanced penalty of $109 million...more

Orrick, Herrington & Sutcliffe LLP

DC Circuit Strikes Down CFPB Leadership Structure

On October 11, 2016 the D.C. Circuit in PHH Corporation v. CFPB, No. 15-1177, struck down the Consumer Financial Protection Bureau's (CFPB) leadership structure as unconstitutional. In short, the court ruled that Congress...more

Troutman Pepper

Federal Appeals Court Finds CFPB's Structure Unconstitutional

Troutman Pepper on

While certainly a big blow to the Bureau, the court’s remedy did not go as far as some CFPB opponents would have liked. In a blockbuster ruling on October 11, the U.S. Court of Appeals for the District of Columbia...more

Stinson - Corporate & Securities Law Blog

CFPB’s Structure Ruled Unconstitutional but it Avoids Being Dismantled

On October 11, 2016, the United States Court of Appeals for the D.C. Circuit issued its highly anticipated opinion in PHH Corp., et al. v. CFPB, holding that the Consumer Financial Protection Bureau’s (CFPB) structure is...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

In a “highly anticipated” ruling from the US Court of Appeals for the DC Circuit, a three-judge panel has found the structure of the Consumer Financial Protection Bureau unconstitutional, holding that the current organization...more

19 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide