The battle between the Consumer Financial Protection Bureau and PHH is over

The DC Court of Appeals overturned the agency's $109 million fine of PHH Mortgage Corporation, but says CFPB is constitutional.

On Wednesday, January 31, the Court of Appeals for the District of Columbia Circuit upheld the constitutionality of the Consumer Financial Protection Bureau (CFPB) ending a two-year debate over the CFPB’s power structure, which stemmed from an ongoing lawsuit between the Bureau and New Jersey-based mortgage lender PHH Mortgage Corporation over the lender’s captive reinsurance practices.