News & Analysis as of

Civil Investigative Demand Payday Loans

Financial Services Report, Summer 2016

by Morrison & Foerster LLP on

BELTWAY - Every Last Penny Counts - Five federal banking agencies issued a Supervisory Bulletin titled “Interagency Guidance Regarding Deposit Reconciliation Practices” (the “Guidance”). The Guidance outlines...more

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

by Ballard Spahr LLP on

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

CFPB replies to tribally-affiliated lenders’ opposition to CIDs

by Ballard Spahr LLP on

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

by Ballard Spahr LLP on

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

Payday lender files petition to modify or set aside CID

by Ballard Spahr LLP on

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

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

by Goodwin on

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

by Ballard Spahr LLP on

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

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