Companies might challenge CFPB after court ruling

CARY, N.C. — More industry reaction percolated stemming from Tuesday’s decision by the U.S. Court of Appeals for the District of Columbia Circuit involving the Consumer Financial Protection Bureau, which on the same day handed out a $28.5 million enforcement action against Navy Federal Credit Union for what the regulator deemed to be improper debt collection actions.

To recap, a panel of three of the appeals court’s judges ruled in favor of a finance company that operates in the mortgage space, rescinding a $109 million enforcement action the bureau handed out nearly two years ago while calling the CFPB “unconstitutionally structured” … Read more

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