Should the CFPB fail to convince the court for a rehearing, or win a rehearing but lose the argument at that point, it would unlikely be able to receive the authorization needed from the Trump administration’s Office of Attorney General to appeal to the U.S. Supreme Court.
According to the Mayer Brown law firm, “Financial services companies that hoped for immediate regulatory relief when the Trump administration assumed control may have to wait a bit longer…”
The states argue that the current ruling in the PHH case, if permitted to stand, will undermine the power of the Attorneys General to effectively protect consumers…