Panel Denies Mortgage Lender, Captive Reinsurer’s Appeal On Federal Statute

Mealey's (February 2, 2018, 12:45 PM EST) -- WASHINGTON, D.C. — On petition by a large mortgage lender and its captive reinsurer, a District of Columbia Circuit U.S. Court of Appeals majority on Jan. 31 upheld a federal statute’s provision preventing the U.S. president from firing an agency’s director without cause (PHH Corp., et al. v. Consumer Financial Protection Bureau, No. 15-1177, D.C. Cir., 2018 U.S. App. LEXIS 2336)....