From $109M Fine to $0: CFPB Case Against NJ Mortgage Lender PHH Corp. Dropped
The dismissal comes fives months after a Washington federal appeals court upheld the CFPB's power structure as constitutional but tossed the penalty against New Jersey-based PHH, sending the case back to the bureau for further action.
June 08, 2018 at 12:00 PM
1 minute read
The original version of this story was published on National Law Journal
Mick Mulvaney testifies in February before the Senate Budget Committee about the Trump administration's budget. Credit: Diego M. Radzinschi / NLJ an ultimately unsuccessful challenge Gibson, Dunn & Crutcher
“We are extremely gratified to have this matter fully resolved as a result of Acting Director Mulvaney's decision to dismiss this case. Today's order is consistent with our long-held view that we complied with RESPA and other laws applicable to our former mortgage reinsurance activities in all respects.”
once again face Olson Read more: Gibson Dunn's Ted Olson Puts New Squeeze on Consumer Bureau Apple's First-Ever CFPB Lobbying Focuses on Mobile Payments Financial Industry Pushes for More Secrecy at Mulvaney's Consumer Bureau Tearing Down the House that Richard Cordray Built DC Circuit Won't Upend CFPB's Single-Director Power Structure
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