The Department of Justice has weighed in on the lawsuit filed by PHH Corp. against the Consumer Financial Protection Bureau. At issue is the constitutionality of the bureau’s structure.
In October, a three-judge panel at the U.S. Court of Appeals for the District of Columbia ruled in favor of PHH. The court found the bureau’s sole director structure to be unconstitutional.
Then the CFPB filed a petition appealing the court’s initial decision. That petition was granted last month. In addition, the appeals court vacated the October ruling.
Source: Mortgage Daily