Clark Hill Member Joann Needleman Quoted in Philadelphia Business Journal, “Why court ruling in PHH case not a clear win for CFPB advocates” February 1, 2018
Philadelphia, PA – Attorney Joann Needleman was quoted by the Philadelphia Business Journal in an article about a federal appeals court’s ruling in a four year legal battle between a N.J.-based mortgage company PHH Corp. and the Consumer Financial Protection Bureau (CFPB). The court ruled to vacate the $109 million dollar fine against PHH Corp. and held that the CFPB's leadership structure was constitutional.
Joann Needleman, Leader of the Consumer Financial Services Regulatory & Compliance Practice Group, stated, "Regulators need to follow due process and give fair warning. So what the court said essentially was 'yes the Bureau is structured constitutionally, but it still has to follow the law.' And in this instance, Corday didn't do that. He didn't like the rules so he made up his own." For more information, click here.
Joann Needleman serves as a navigator to her clients seeking advice and guidance in the complex regulatory environment facing the financial services industry. She provides counsel, consultation and litigation services to a wide array of financial institutions, law firms, credit reporting agencies and debt buyers throughout the country. A former member of the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board, Joann has been able to provide her clients with useful strategies in order to prepare for new areas of regulatory scrutiny.