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.

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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.