Lawsuits

A federal appeals court appears to be leaning toward a ruling in favor of the CFPB in a case about its single-director structure.

Appeals court justices appeared divided on whether the structure of the Consumer Financial Protection Bureau is constitutional during oral arguments in the PHH v. CFPB case on Wednesday.

The case, PHH Corp. v. CFPB, is being watched closely because depending on the outcome, it could give President Trump the power to immediately fire Richard Cordray, the CFPB's director.

State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.

The landmark ruling remands the city of Miami's 2013 suit against Wells Fargo and Bank of America to the lower court.

President Trump is locked in a political game of chicken with Richard Cordray, the director of the Consumer Financial Protection Bureau.

The Consumer Financial Protection Bureau's unblemished track record regarding enforcement actions came to an end in 2016 as more companies began fighting back.