Civil Investigative Demand

News & Analysis as of

Government Latin Lessons

A couple of years ago, we discussed in an article in this publication the willingness of Centers for Medicare & Medicaid (“CMS”)and the United States Attorneys’ Office to pursue actions for violations of the False Claims Act...more

The 60 Day Rule — Identification and Knowing Avoidance

On August 3, 2015, the United States District Court for the Southern District of New York issued an opinion and order in Kane v. Healthfirst, Inc., et al.[1] that provides the first judicial interpretation of the requirement...more

Kane and the “60-Day Rule”: The Unforgiving World of Medicare and Medicaid Overpayments

The Southern District of New York has spoken on one of the first issues to confront those seeking compliance with the new “60-day rule” under the Affordable Care Act (ACA), and it does not bode well for defendant hospitals...more

CFPB Affirms Its Authority to Serve Civil Investigative Demands - Companies That Transact Business with Financial Institutions...

Consumer Financial Protection Bureau (CFPB) Director Richard Cordray rejected challenges to the CFPB's investigation powers and the Bureau's use of broadly worded civil investigative demands (CIDs). Director Cordray did so in...more

CFPB denies lead generation company’s petition to modify or set aside CID

The CFPB has denied the petition of a lead generation company and its employee to modify or set aside a civil investigative demand (CID). As we reported, among the petitioners’ arguments for why the CID should be set aside...more

How to Respond to a CFPB Civil Investigative Demand

The Consumer Financial Protection Bureau (“CFPB”) was created to enforce the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”) and various consumer finance laws (e.g., Equal Credit Opportunity...more

CFPB Issues List of Consumer Protection Concerns for New Faster Payment Systems

The Consumer Protection Principles continue the CFPB’s expansive approach. Stating that it wants to ensure that “any new payment systems are secure, transparent, accessible, and affordable to consumers” and have “robust...more

Are Public Companies Required to Disclose that the Government is Investigating Them?

For many public companies, the first issue they have to confront after they receive a government subpoena or Civil Investigative Demand (“CID”) is whether to disclose publicly that they are under investigation. Curiously, the...more

Federal district court grants CFPB petition to enforce CIDs issued to tribal lenders

A California federal court recently issued an order granting the CFPB’s petition to enforce its civil investigative demands (CIDs) issued to three tribally-affiliated payday lenders. However, the court also granted the...more

The High Costs and Consequences of a CFPB CID

Dodd-Frank gives the Consumer Financial Protection Bureau (CFPB) the power to enforce and implement federal consumer financial protection laws, including home mortgage and other consumer credit regulations, plus powerful...more

IRS Broadens Offshore Amnesty Program

Over the last several years, the Internal Revenue Service (IRS) has focused its efforts on enforcement of U.S. laws with respect to offshore assets held by U.S. citizens and residents, including their tax payment and...more

CFPB replies to tribally-affiliated lenders’ opposition to CIDs

Last Friday, the CFPB replied to the arguments made by three tribally-affiliated payday lenders in opposition to the CFPB’s petition in California federal court seeking to enforce the civil investigative demands (CIDs) issued...more

CFPB files petition in CA federal court to enforce CIDs issued to tribal payday lenders

The CFPB recently filed a petition in U.S. District Court for the Central District of California seeking to enforce the civil investigative demands (CIDs) it issued in June 2012 to three tribally-affiliated payday lenders. A...more

New and Improved Law to Govern Commercial Common Interest Developments in California

As of January 1, 2014, commercial common interest developments (CIDs) in California are governed by the new Commercial and Industrial Common Interest Development Act. The New Act establishes provisions specific to...more

Payday lender files petition to modify or set aside CID

The CFPB recently posted to its website a petition filed by Checksmart Financial Company to modify or set aside a civil investigative demand it received from the Bureau. ...more

Four Tips for Responding to a Civil Investigative Demand: A Report from the Trenches

Simply being served with a Civil Investigative Demand (CID) means enormous financial strain and reputational risk for some companies. On top of that, in this heightened regulatory environment, federal agencies seem to be...more

CFPB Rejects Tribal Lenders’ CID Challenge

On September 26, the CFPB denied three tribal lenders’ joint petition to set aside civil investigative demands (CIDs) issued in June 2012. The CIDs were issued in connection with the Bureau’s investigation into several...more

Beware the False Claims Act, Whistleblowers, and the Importance of Internal Investigations

Companies that do business with the federal government must be cognizant of potential liability under the False Claims Act. Civil litigation may be inevitable at times as a result of occasional business disputes with...more

CFPB Denies Payday Lender’s Petition to Set Aside Civil Investigative Demand

The CFPB denied two online payday lenders’ petition to set aside a civil investigative demand. The lenders claimed they are chartered under the laws of federally recognized Indian tribes and therefore, the CFPB’s...more

CFPB denies petition by tribal payday lenders to set aside CIDs

On September 26, the CFPB issued a 10-page order denying a petition filed jointly by three tribal payday lenders that asked the CFPB to set aside the civil investigative demands (CIDs) the lenders received from the CFPB. The...more

August Beach Read Series: Navigating CFPB CIDs

Like many government agencies before it, the CFPB has relied on the use of civil investigative demands (CIDs) in investigations. CIDs are one of the many tools in the CFPB’s toolbox to gather information from the subject of...more

CFPB Investigations In Focus: Navigating CIDs

The Consumer Financial Protection Bureau was established in July 2011, with the mission of making “markets for consumer financial products and services work for Americans.” Over the last two years, it has been actively...more

“Responsible Conduct”: a welcome statement, but with two serious problems

On June 25, 2013, the CFPB released a Bulletin to describe the sorts of “responsible conduct” that might lead it to be more lenient in the context of an enforcement investigation....more

Tribal challenge made to Cordray appointment

According to a Bloomberg report, the Chippewa-Cree tribe in Montana, as grounds for objecting to a Civil Investigative Demand (CID) issued by the CFPB, has challenged the validity of Director Richard Cordray’s recess...more

Dealing with Civil Investigative Demands from the CFPB—Rules, Responses & Pitfalls

The Consumer Financial Protection Bureau’s civil investigative demand (“CID”) authority has recently presented significant compliance difficulties for companies that have received requests for information relating to an...more

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