General World News

CFPB’s appeal to Ocwen suit off to a rough start

The Consumer Financial Protection Bureau’s attempt to revive a mortgage servicing misconduct lawsuit against Ocwen Financial Corp. is in choppy waters.

On Wednesday, the U.S. Court of Appeals for the Eleventh Circuit ruled that most of the watchdog’s complaints against Ocwen that occurred from January 2014 to Feb. 26, 2017, are prohibited because of a 2014 consent order. The bureau can only advance claims for alleged misconduct that are not covered by the terms of consent judgement, the Court said.

“This middle-course reading avoids the problem of rendering the settlement agreement’s enforcement mechanism meaningless, while details ⇒

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