For real estate brokers, agents, lenders and title companies subject to the Real Estate Settlement Procedures Act (“RESPA”), October 11, 2016 was a banner day. A three-judge panel of the US Court of Appeals for the DC Circuit issued a ruling that day overturning a $109 million monetary penalty imposed by the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) against PHH Corporation. In doing so, the court addressed the unconstitutionality of the CFPB’s structure, strongly rebuffed the CFPB for its interpretation of Section 8 of RESPA and the Bureau’s retroactive application of that interpretation and imposed RESPA’s three-year statute of limitations on the CFPB. Among its important implications for companies regulated by RESPA, the court’s decision breathes new life into services agreements.
Join Phillip Schulman, Andrew Pincus and Holly Bunting on November 2, 2016 at 2 p.m. EDT for a 60-minute webinar to discuss the takeaways from PHH Corporation v. CFPB. Among other topics, we will address:
Don’t miss this timely and significant presentation.
CLE credit is pending.
Instructions for accessing the program will be sent prior to the event.
For additional information, please contact Pascale Rucker at or +1 202 263 3321.
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