The Consumer Financial Protection Bureau (CFPB) published its first request for information (RFI) on its practices, this a look into its process for pursuing and issuing civil investigative demands (CIDs).
The request, published Jan. 26, sets a comment deadline of March 27 for the industry to respond.
The CFPB is looking for input on the process both from the general industry it regulates, but also specifically from entities who have received CIDs or attorneys who have represented them. And its request includes questions regarding changing statutes in the Dodd-Frank Act, the potential of eliminating petitions to modify or set aside CIDs, and the overall scope of inquiries. Read on for more.
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