Bradley Partner Robert Maddox was quoted in IMFnews on how the recent ruling on the structure of the Consumer Financial Protection Bureau (CFPB) could affect the similarly structured Federal Housing Finance Agency (FHFA). In PHH Corp. v. Consumer Financial Protection Bureau, a D.C. Circuit Court judge found that the bureau’s single-director structure was unconstitutional and voided a $109 million penalty against PHH for violations of the Real Estate Settlement Procedures Act.
“While the court did not address the constitutionality of FHFA, the framework of FHFA may possibly lend itself to the same constitutional scrutiny as the CFPB,” Maddox said.
The complete article, “Could the Judge’s Ruling in the PHH-CFPB Case Ultimately Affect the FHFA? ” appeared in IMFnews on October 17, 2016. (login required)