The Consumer Financial Protection Bureau (CFPB) has denied an indirect finance company’s request to set aside or modify a civil investigative demand (CID) to determine whether debt relief providers induced people to enter into unfair, deceptive or abusive U.S. Department of Education student loans.
The company had argued that the CID, which was issued Oct. 23, was overly burdensome.
It also made an alternative claim that the CID deadlines should be put on hold until after the Supreme Court decides the constitutionality of the removal restriction in Seila Law v. CFPB, which will be argued March 3.
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