  We explore the phenomenology of a two Higgs doublet model where both Higgs
doublets couple to up-type and down-type fermions with couplings determined by
the minimal flavor violation ansatz. This 2HDM "Type MFV" generalizes 2HDM
Types I-IV, where the decay rates of h --> bb and h --> tau+tau- are governed
by MFV couplings independent of the Higgs couplings to gauge bosons or the top
quark. To determine the implications of the present Higgs data on the model, we
have performed global fits to all relevant data. Several surprisingly large
effects on the light Higgs phenomenology can arise: (1) The modified couplings
of the Higgs to fermions can enhance the h --> gamma gamma rate significantly
in both VBF production (up to a factor of 3 or more) and the inclusive rate (up
to a factor of 1.5 or more). (2) In the 2HDM Type MFV, the constraints on a
light charged Higgs are milder than in 2HDM Types I-IV. Thus, there can be
substantial charged Higgs loop contribution to the di-photon rate, allowing
further enhancements of the di-photon rates. (3) The h --> tau+tau- rate can be
(highly) suppressed, independently of the other decay channels. Furthermore, we
studied the correlation between the light Higgs and the heavy Higgs
phenomenology. We showed that even small deviations from the decoupling limit
would imply good prospects for the detection of the heavy Higgs boson. In some
regions of parameter space, a substantial range of M_H is already either ruled
out or on the edge of detection. Finally we investigated the possibility that
the heavy Higgs is close in mass to the light Higgs, providing additional h/H
--> bb rate, as well as confounding the extraction of properties of the Higgs
bosons.
