WASHINGTON, D.C. – Following the U.S. Court of Appeals for the District of Columbia Circuit’s decision in PHH Corp. v. Consumer Financial Protection Bureau, U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement:

“I disagree with the Court’s decision. The CFPB’s structure works – just look at the critical role CFPB played in holding Wells Fargo accountable for customer abuses. Despite the industry’s claims, the CFPB is subject to extensive oversight and it is one of the most accountable financial agencies. The CFPB will continue its tireless work advocating on consumers’ behalf and today’s decision underscores the importance of having a White House and Congress that supports its mission of strengthening consumer protections, rather than seeking to weaken and undermine oversight.”