Court upholds constitutionality of Consumer Financial Protection Bureau

Eric Mogilnicki is quoted in a Politico article regarding the federal appeals court ruling upholding the constitutionality of the CFPB’s structure. According to Mogilnicki, it's “quite likely” PHH would prevail in its argument against the penalty following today’s decision, and that an appeal from the administration would be unlikely due to political considerations. “It’s hard to see why the administration would want this appealed except for under the principle” of preserving executive branch power, Mogilnicki says.