News & Analysis as of

PHH Corp. v CFPB Administrative Proceedings

Ballard Spahr LLP

Fifth Circuit rules CFPB’s structure is constitutional

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On Tuesday March 3, the same day that the U.S. Supreme Court heard oral argument in Seila Law, the Fifth Circuit, in a 2-1 decision, ruled in All American Check Cashing that the CFPB’s structure is constitutional....more

Ballard Spahr LLP

Seila Law to seek U.S. Supreme Court review of Ninth Circuit ruling that CFPB’s structure is constitutional

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Appellant Seila Law has filed a motion for a stay of the Ninth Circuit’s mandate in its decision ruling that the CFPB’s single-director-removable-only-for-cause structure is constitutional pending the filing by Seila Law of a...more

Seyfarth Shaw LLP

The Consumer Financial Protection Bureau Dodges Another Bullet: Consumer Financial Protection Bureau v. Seila Law LLC

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Although Congress created the Consumer Financial Protection Bureau (“CFPB”) nearly a decade ago, constitutional challenges to its leadership structure remain ongoing. Until recently, only the D.C. Circuit had ruled on the...more

Ballard Spahr LLP

Ninth Circuit Rules CFPB’s Structure Is Constitutional

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A unanimous Ninth Circuit panel has ruled in CFPB v. Seila Law LLC that the CFPB’s single-director-removable-only-for-cause structure is constitutional....more

Ballard Spahr LLP

Four Amicus Briefs Filed in All American Check Cashing Case Addressing Constitutionality of CFPB Structure

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On September 17, 2018, four Amici filed briefs in the CFPB’s case against All American Check Cashing, which is now before the Fifth Circuit Court of Appeals. The Court is considering whether the structure of the CFPB is...more

Seyfarth Shaw LLP

An SDNY Dilemma: CFPB Held Unconstitutional Over Director Removal Provision

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On June 21, 2018, in deciding a motion to dismiss a complaint brought the Consumer Financial Protection Bureau (“CFPB”)and the State of New York, Judge Loretta Preska of the U.S. District Court for the Southern District of...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

No U.S. Supreme Court review sought in PHH

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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

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

K&L Gates LLP

Saved by the En Banc: CFPB Appears Here To Stay

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The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has been an agency under fire. Acting Director Mick Mulvaney has begun to institute significant changes at the Bureau. And last year, a panel of the D.C. Circuit...more

Nelson Mullins Riley & Scarborough LLP

Just Before the Super Bowl, the D.C. Circuit in PHH Mortgage gives Industry a Field Goal, Withholds Touchdown

Following nearly three years of litigation, the D.C. Circuit handed down a 7 to 3 ruling in PHH Corp. v. Consumer Financial Protection Bureau. The two hundred fifty page opinion addressed not only the constitutional...more

Pillsbury - Gravel2Gavel Construction & Real...

An En Banc Panel of the DC Circuit Court of Appeals Upholds the Constitutionality of the CFPB

On October 11, 2016, a panel of the U.S. Court of Appeals for the District of Columbia consisting of Judges Henderson and Kavanaugh and Senior Circuit Judge Randolph decided the case of PHH Corp. v. Consumer Financial...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

Clark Hill PLC

CFPB is Constitutional, But Makes $100 Million Mistake In Interpreting the Law

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The D.C. Circuit Court of Appeals issued its long awaited decision in PHH v. Consumer Financial Protection Bureau, holding by a 7-3 decision that the Consumer Financial Protection Bureau’s (CFPB or Bureau) single-Director...more

Kelley Drye & Warren LLP

Full Panel of D.C. Circuit Upholds CFPB Structure, Reversing Earlier Decision

Earlier today, an en banc panel of the U.S. Court of Appeals for the D.C. Circuit ruled that the CFPB was constitutionally structured, reversing an earlier decision by a divided three-judge panel and holding that the...more

McGuireWoods LLP

Full D.C. Circuit Court, Reversing Decision Below, Holds that CFPB’s Independent Structure is Constitutional; also Reinstates...

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In a long-awaited constitutional decision regarding the Consumer Financial Protection Bureau (“CFPB”), the full D.C. Circuit Court of Appeals today in PHH v. CFPB reversed a prior ruling by a three-judge panel that the CFPB...more

Ballard Spahr LLP

DOJ sides with Lucia against the SEC in dispute over whether ALJs are inferior officers

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The Supreme Court is considering a cert petition requesting that it hear the Lucia case, which we have blogged about extensively due to its potential impact on the outcome of the PHH case. Significantly, the DOJ recently...more

Ballard Spahr LLP

Lucia appeals D.C. Circuit ruling to Supreme Court

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On July 21, 2017, an investment adviser sought review by the Supreme Court of the D.C. Circuit’s recent ruling in Lucia that allowed to stand a district court decision holding that SEC administrative law judges (“ALJs”) are...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

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