During the “Developments at the CFPB” panel this morning at the Pennsylvania Bar Institute Consumer Financial Services & Banking Law Update program in Philadelphia, Jeffrey Ehrlich, the CFPB’s Deputy Enforcement Director, would not comment on whether the CFPB will seek further judicial review of the October 11 opinion of a 3-judge panel of the U.S. Court of Appeals for the D.C. Circuit in PHH Corporation v. CFPB.
In my view, it is very likely that the CFPB will file a petition for rehearing en banc on or before the Nov. 25 deadline. Mr. Ehrlich indicated that the only announcement the CFPB will make if it decides to file such a petition will be the filing of the petition itself.
I am chairing the PBI program with my partner, Mark Furletti. Another colleague (and former Senior Enforcement Attorney at the CFPB), James Kim, participated with Mr. Ehrlich, in the panel on CFPB developments.