Skip to main content

Court to Rehear Case on CFPB’s Constitutionality

Phil Hall
Feb 16, 2017

The U.S. Court of Appeals for the District of Columbia Circuit has agreed to rehear the case that challenged the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) leadership structure.
 
According to a Bloomberg report, the full 12-just court will hear the case on May 24. Last October, a three-judge panel heard the case in which resulted in the erasure of $109 million in penalties enacted by the CFPB against mortgage lender. A two-judge majority on that panel went one step further in declaring the single-director CFPB leadership system created a position with too much authority and little accountability.
 
The October ruling took greater prominence after Donald Trump’s election, with many Capitol Hill Republicans demanding that the new president fire Cordray. However, to date the White House has given the CFPB director’s fate a low priority and has declined to state what its plans were for the bureau.
Published
Feb 16, 2017
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021
Waterstone Mortgage Names VP Of Compliance

Waterstone Mortgage Corporation named Kris Barros as the company's vice president of compliance.

Community
Oct 08, 2021