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MoFo Reenforcement The Enforcement Blog

CFPB Hit by Major Setback in D.C. Circuit

Posted in CFPB, Mortgage

In a decision eagerly awaited by the financial services industry, the D.C. Circuit this week handed the CFPB a major defeat, throwing out a mortgage lender’s $109 million disgorgement remedy on constitutional, statutory, and administrative-law grounds. See PHH Corp. v. CFPB. This may not be the last chapter in the story, however, as it is likely that the government will seek further review.

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