A federal appeals court has ruled in a closely followed case that the Consumer Financial Protection Bureau’s structure is constitutional.

The decision was handed down on Wednesday by the U.S. Court of Appeals for the District of Columbia Circuit for a petition for rehearing by PHH Corp.

The case first took shape in early 2014 when the CFPB accused the Mount Laurel, New Jersey-based firm and four subsidiaries of violating the Real Estate Settlement Procedures Act.

Source: Mortgage Daily