Questions emerging: what does the future hold for PHH litigation proceedings and the CFPB director?

The potentially explosive combination of the D.C. Circuit’s October decision in PHH v. CFPB and the outcome of the presidential election have spurred a host of questions about how the PHH litigation may proceed and about the future of the Consumer Financial Protection Bureau (CFPB) under the leadership of CFPB Director Richard Cordray. Many questions have emerged regarding the road ahead—both in terms of the PHH litigation and the options available to President Trump should he want new leadership at the CFPB. This post includes our views on a number of questions arising from this litigation, including: What role, if any, will the Department of Justice play in the PHH litigation? When might the U.S. Supreme Court have an opportunity to weigh in? Does PHH by itself authorize President Trump to remove the CFPB Director?

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