On June 7, 2018, the Consumer Financial Protection Bureau (CFPB) issued an order dismissing administrative proceedings against PHH Corp. The dismissal follows a January 31, 2018 opinion by the U.S. Court of Appeals for the D.C. Circuit (D.C. Circuit) reinstating the court’s prior interpretation of Section 8 of the Real Estate Settlement Procedures Act (RESPA). According to the order, the CFPB determined that further agency proceedings were unnecessary given that the D.C. Circuit’s interpretation “is now the law of this case” and therefore “PHH did not violate RESPA.” The order brings an end to the long-running enforcement action.
Blog Enforcement Watch June 12, 2018