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Tag Archives: Constitution

CFPB: Ocwen Can’t Expedite Constitutionality Ruling

The Consumer Financial Protection Bureau (CFPB) has denied Ocwen Financial Corporations’s attempt to expedite a court ruling on the constitutionality of the Bureau. The CFPB said that the mortgage servicer shouldn’t get special treatment in the case, alleging it failed “every stage of the mortgage servicing process.” The CFPB attempted to block Ocwen’s expediting attempt by telling a Florida federal court to deny Ocwen’s attempt at fast-tracking its constitutional challenge against the agency’s structure.

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CFPB Questions Court Decisions

Previously, the Trump administration had indicated its support the D.C. Court’s initial ruling, which would make CFPB Director Cordray eligible to be fired at will by the president. Although the CFPB had argued against the administration’s interpretation of the bureau’s constitutionality, the Trump administration has the support of the D.C. Circuit Court.

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