The Consumer Financial Services Association of America said courts have “ample means” to protect the mortgage market if the CFPB is found to be unconstitutional.
American Bankers Association Senior Counsel Kathleen Ryan said that the statement's examples of abusive conduct were based on “unproved and untested allegations in enforcement actions,” not on caselaw.
Officials, who were authorized to speak on background only, said the CFPB is working to preserve streamlined modifications and enhance consumer protections against behaviors like dual tracking.