DOJ Battles CFPB

The U.S. Department of Justice has said it plans to side with PHH in its court battle with the Consumer Financial Protection Bureau, American Banker reported. “In a filing made late last week, the Justice Department said it would file a friend-of-the-court brief no later than March 17,” the article said. “The motion appears to indicate that the White House intends to resolve the fate of CFPB Director Richard Cordray through the courts rather than through an action by the president, lawyers said.”

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