Earlier this year, the Consumer Financial Protection Bureau issued a civil investigative demand (CID) to Synchrony Financial to determine “whether banks or other persons have engaged or are engaging in unlawful acts and practices in connection with the marketing and servicing of deferred-interest credit cards.”
The bureau denied Synchony’s petition to set aside the request, as it has in each of the 22 orders in which it has ruled upon since opening its doors. However, in a supplemental brief filed with Synchrony’s petition, the company included correspondence from the CFPB on a “market-monitoring” data request made in addition to its CID request.
So what was the CFPB looking for in the data request, much of which Synchrony said was also the subject of the bureau’s CID?
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