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CFPB's existence attacked by company it is suing

Posted by Clyde Hutchins | Apr 27, 2017 | 0 Comments

The constitutionality of the Consumer Financial Protection Bureau (CFPB) is being attacked in a case it brought against Ocwen.

The CFPB and several attorneys general sued Ocwen in connection with its foreclosure and loan servicing activities. The CFPB claims that Ocwen failed to comply with terms of a settlement agreement it reached with the CFPB and most of the states in 2014.

Ocwen did not waste any time in challenging the authority of the CFPB. The case was filed on April 21, 2017. Four days later, Ocwen filed a motion challenging the constitutionality of the CFPB. Ocwen invited the U.S. Attorney General to enter an appearance in the case. The crux of the challenge against Ocwn is that it is run by a single director that the president may not remove at will. This could constitute a violation of the separation of powers clause of the Constitution.

About the Author

Clyde Hutchins

Clyde Hutchins is the founder of Harmony Law. Mr. Hutchins started his legal career in Cheyenne, Wyoming as a law clerk for the district court judges. Mr. Hutchins then entered private practice with a Wyoming based litigation and business law firm. Later, Mr. Hutchins went to Alaska, where he was the chief litigator for a firm that engaged in bond law, corporate law, securities law, and municipal law. The State of Wyoming hired Mr. Hutchins from Alaska to represent the State of Wyoming in the national tobacco arbitration and act as its tobacco settlement attorney. While in that position, as a hobby, he developed an enforcement unit for consumer protection for Wyoming residents. Mr. Hutchins moved to Colorado in 2016 and founded Harmony Law, LLC. Harmony Law is primarily engaged in civil litigation. It is also a general practice firm in the areas of business law, estate planning, consumer law and family law. Harmony Law is active in all state and federal courts throughout Wyoming and Colorado.

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Harmony Law engages in litigation in Wyoming and Colorado. If you have a serious dispute or have been sued, feel free to call 970-488-1857 and speak with Mr. Hutchins.

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