PHH Corp. v CFPB- a lot is riding on the outcome

PHH Corp. filed two motions last week to keep Democratic state attorney generals from intervening in a court case that found the CFPB’s structure unconstitutional, American Banker reported. “The … mortgage servicing firm alleges that the state AGs have no legally protected interest in the case and that they failed to meet the standard for intervening in a timely manner. … The arguments are part of the ramped-up jockeying to influence the outcome of the contentious appeals court case, PHH Corp. v. CFPB. The case could determine whether CFPB Director Richard Cordray can keep his job until his term expires in July 2018, or if President Donald Trump can fire him at will.”

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