October 11, 2016
A federal appellate court on Tuesday ruled that the single-director structure atop the Consumer Financial Protection Bureau was unconstitutional, and gave the president the authority to fire the director at will in order to provide a check on the bureau's expansive power.
April 12, 2016
A D.C. Circuit judge on Tuesday questioned the constitutionality of the Consumer Financial Protection Bureau's single-director structure during PHH Corp.'s appeal of a $109 million mortgage kickback penalty, saying it's "very dangerous" to vest extreme power in one person.
April 06, 2016
The D.C. Circuit has warned that it will dig into the role of consumer-protection czar Richard Cordray at an upcoming oral argument, focusing on the unusual power of his position as head of the Consumer Financial Protection Bureau and the role that power could have played in a $109 million penalty against a mortgage reinsurer.
December 14, 2015
A mortgage reinsurance subsidiary of PHH Corp. on Friday urged the D.C. Circuit to vacate the Consumer Financial Protection Bureau's $109 million mortgage kickback penalty because the bureau's order oversteps its constitutional authority and its new interpretation of the law is illegal.
December 09, 2015
The AARP on Tuesday backed the Consumer Financial Protection Bureau in a fight to keep intact a $109 million mortgage kickback penalty ordered against PHH Mortgage Corp., telling the D.C. Circuit the agency must be allowed broad authority to enforce mortgage laws that protect older people.
December 07, 2015
The Consumer Financial Protection Bureau has said that it acted properly in assessing a $109 million mortgage kickback penalty against PHH Mortgage Corp., and that the firm’s call for leniency in overturning the decision should be rejected.
November 24, 2015
PHH Corp. told the D.C. Circuit on Monday that the Consumer Financial Protection Bureau's defense of a $109 million disgorgement order over an alleged mortgage reinsurance kickback scheme was "long on allegation and short on law," claiming it wasn't given fair notice that its conduct was unlawful.
November 06, 2015
The Consumer Financial Protection Bureau said Thursday that its $109 million disgorgement order against PHH Corp. in a mortgage reinsurance kickback case met all statutory requirements and should be allowed to stand to keep other companies from engaging in similar schemes.
October 07, 2015
The U.S. Chamber of Commerce on Monday filed an amicus brief supporting PHH Corp.'s D.C. Circuit bid to overturn a Consumer Financial Protection Bureau order that the lender must pay a $109 million penalty over a mortgage insurance kickback scheme, saying the order creates uncertainty and unfairness.
September 28, 2015
PHH Corp. urged the D.C. Circuit on Monday to overturn the Consumer Financial Protection Bureau's order that the mortgage lender pay a $109 million penalty over a mortgage insurance kickback scheme, saying the agency is trying to criminalize a legitimate business.