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The CFPB Found Unconstitutional…But …

PYMNTS

The Consumer Finance Protection Bureau suffered a major blow in Federal Appeals Court yesterday when a three judge panel ruled that parts of its leadership structure are unconstitutional. This decision was taken as part of mortgage lender’s PHH Corp. appeal of the 2014 $109M financial penalty imposed by the CFPB.

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OCC Chief Praises Mulvaney On Halting Payday Rule

PYMNTS

The job of regulators “is to help our system fulfill its important role in society by ensuring it operates in a safe and sound manner and treats customers fairly,” Otting said in a press release. ” “I have been impressed with Mick’s leadership and emphasis on operational efficiency and excellence,” Otting added.