Civil Rights Groups Back CFPB’s Petition For Rehearing Against PHH Corporation
Today, the Consumer Financial Protection Bureau (CFPB) filed a petition for rehearing before the U.S. Court of Appeals for the District of Columbia Circuit urging the court to revisit a three judge panel's 2-1 decision made last month on CFPB's enforcement order in PHH Corporation vs. CFPB. In its decision, the panel ruled that the President must be able to remove the CFPB Director without cause. Civil rights groups underscored the need for the CFPB to preserve its independence as a strong regulatory agency, as Congress intended, and support the Bureau's efforts to have the decision reviewed