Stephen Meyer Quoted in Bloomberg BNA Article on Upcoming Federal Appeals Court Ruling Challenging CFPB Enforcement Action

August 5, 2016
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On August 5, Mr. Meyer was quoted in a Bloomberg BNA article titled “PHH Corp. v. CFPB: Six Issues to Watch.” The article included various financial services lawyers' perspectives on the upcoming federal appeals court decision in the case PHH Corp. v. Cons. Fin. Protection Bureau. PHH Corp., a mortgage company, is challenging an enforcement ruling by the Consumer Financial Protection Bureau (CFPB) that PHH violated anti-kickback provisions in the Real Estate Settlement Procedures Act (RESPA). Mr. Meyer said the tone of the ruling could have important implications for the way CFPB is perceived in the future. “Government agencies worry about their reputation in the courts,” he said. “But even if two judges rule against the Bureau, a strong dissent saying there's legal support for the CFPB's position on RESPA and the statute of limitations, for example, could reduce the negative impact.”