For Lawyers | Log In | Join | Upload
WORKING... advanced

Petitions to Modify or Set Aside CFPB Civil Investigative Demands (CIDs): Analysis of Recent Decisions

more+
less-

The Consumer Financial Protection Bureau (CFPB) has been using Civil Investigative Demands (CIDs) to investigate whether financial institutions are engaging in conduct that violates consumer financial laws. Two recent decisions of the CFPB in response to requests to modify or set aside these CIDs are instructive for others who may wish to challenge requests for information or documents. This article, published as an Emerging Issues Analysis by Lexis/Nexis (2013 Emerging Issues 6890) describes the CFPB's rules for CIDs, and analyzes the Bureau's first two orders in response to deny or set aside CIDs. The orders are useful in that they provide guidance on CFPB's standards for considering and responding to petitions to modify or set aside. The authors, AJ Dhaliwal and Amanda Raines of BuckleySandler, LLP, close with a handful of considerations that should inform decisions to challenge CIDs issued by CFPB.


LOADING PDF: If there are any problems, click here to download the file.

Published In: Finance & Banking Updates, Civil Procedure Updates, Civil Remedies Updates, Consumer Protection Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© BuckleySandler LLP | Attorney Advertising

×

Expand Your Reach

JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...

Learn More  or  Schedule a demo