Bureau Seeking Injunction, Restitution, and Penalties for Long-Lasting Scheme
WASHINGTON, D.C.—(ENEWSPF)—January 29, 2014. Today the Consumer Financial Protection Bureau (CFPB) initiated an administrative proceeding against PHH Corporation and its affiliates (PHH), alleging PHH harmed consumers through a mortgage insurance kickback scheme that started as early as 1995. The CFPB is seeking a civil fine, a permanent injunction to prevent future violations, and victim restitution.
The filing is against New Jersey-based PHH Corporation and its residential…
