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Andrew L. Sandler Quoted in Bloomberg Law Article, "CFPB Loss in PHH Case Opens Door for More Enforcement Fights"

Andrew L. Sandler was quoted on October 12, 2016 in a Bloomberg Law article regarding a U.S. Court of Appeals decision, which found the structure of the Consumer Financial Protection Bureau (CFPB) to be unconstitutional. Furthermore, the court found the agency’s retroactive enforcement efforts extend too far back in time – and imposed a three-year statute of limitations on the CFPB’s regulatory conduct.

Sandler, who weighed-in on the decision, was paraphrased by Bloomberg Law, stating, “For one thing, the CFPB will be less able to seek restitution for periods prior to statutes of limitation in cases where a statute of limitation applies.”

Sandler also commented on the court’s refusal to accept the CFPB’s reading of RESPA. He noted, “[The CFPB] will no longer be able to seek restitution for past periods where it interprets a rule, regulation or interpretation of another agency insofar as the subject company’s actions were consistent with the prior rule, regulation, or agency interpretation.”

Sandler concluded his commentary by predicting the legal effects the decision of unconstitutionality may have on prior agency enforcement outcomes; “I would expect to see lawyers looking to see if challenges are appropriate.”

Click here to read the full article at www.bna.com