Department of Justice flip-flops, withdraws support from CFPB in PHH case

By March 20, 2017 Inman No Comments

What does it look like when a federal department changes its mind?

And if that department’s opinion has been offered in an ongoing court case involving a federal agency — what does that mean?

This is the current scenario describing the Department of Justice’s (DOJ’s) stance toward the Consumer Financial Protection Bureau (CFPB), which is currently embroiled in a regulatory battle with mortgage lender PHH.

That regulatory argument involves RESPA (the Real Estate Settlement and Procedures Act) and how PHH managed its partnerships — but how the CFPB is structured and whether or not the Pres...

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