News & Analysis as of

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

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

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

DOJ agrees CFPB is unconstitutional but opposes grant of certiorari in State National Bank of Big Spring case

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Despite agreeing on the merits with State National Bank of Big Spring (SNB) and the other petitioners for certiorari that the CFPB’s structure is unconstitutional, the Department of Justice has filed a brief in which it...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

Ballard Spahr LLP

Will the CFPB appeal Judge Preska’s ruling striking Title X?

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The CFPB will soon need to decide how it will respond to the decision issued last week by Judge Preska of the Southern District of New York in RD Legal Funding finding that the CFPB’s single-director-removable-only-for-cause...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

Clark Hill PLC

New York Federal Court Rules That The Bureau of Consumer Financial Protection Is Unconstitutional, Continuing A High-Stakes Debate

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In an ongoing, high-profile legal debate, court opinions on the constitutionality of the structure of the Bureau of Consumer Financial Protection (“Bureau”) – previously known as the Consumer Financial Protection Bureau...more

Blank Rome LLP

Southern District of New York Holds the CFPB Is Unconstitutionally Structured

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On June 21, 2018, the United States District Court for the Southern District of New York (“Southern District”) held that Title X of the Dodd Frank Act, which established the Consumer Financial Protection Bureau (“CFPB”) as an...more

Bradley Arant Boult Cummings LLP

Bureau of Consumer Financial Protection Once Again Deemed Unconstitutional

The Bureau of Consumer Financial Protection has once again been deemed unconstitutional, this time in an opinion issued on June 21, 2018, by Loretta A. Preska, Senior U.S. District Judge for the Southern District of New York,...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

Foley & Lardner LLP

RESPA and UDAAP Enforcement Following The PHH Decision: What To Expect

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As anyone who is associated with the residential real estate settlement services industry can appreciate, resolution of the PHH case by the full bench of the D.C. Circuit Court of Appeals has brought much-needed clarity and...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

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

Seyfarth Shaw LLP

Win Some, Lose Some: Trump Gets A Loss And A Win In The Fight To Control The CFPB

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Seyfarth Synopsis: One court upholds protection of Dodd-Frank limiting the President’s removal authority, while another court stifles a challenge against Mulvaney serving as acting Director of CFPB....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

Goodwin

D.C. Circuit Issues Long-awaited Decision in PHH Corp. v. CFPB, Reinstating the Panel’s RESPA Holdings

Goodwin on

On January 31, 2018, the U.S. Court of Appeals for the D.C. Circuit (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...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

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