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CFPB should penalize PHH Mortgage after $45 million states' settlement, senator says

( January 4, 2018, 15:19 GMT | Official Statement) -- MLex Summary: US Senator Sherrod Brown, the Senate Banking Committee's top Democrat, called on the US Consumer Financial Protection Bureau to revert to its original course under President Obama and penalize PHH Mortgage after its $45 million settlement with 49 state attorneys general this week. The CFPB under Obama sued PHH, seeking to return money to borrowers allegedly harmed by abusive servicing practices. Under President Trump, the CFPB changed course and joined PHH's court fight against proposed federal penalties.Statement follows below:...

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