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Small Dollar Lenders Civil Investigation Demand

Ballard Spahr LLP

Nevada federal district court stays CFPB action to enforce civil investigative demand pending SCOTUS decision in CFSA case

Ballard Spahr LLP on

A Nevada federal district court has stayed an action filed by the CFPB to enforce a civil investigative demand (CID) issued to a small-dollar lender pending the U.S. Supreme Court’s decision in Community Financial Services...more

Orrick, Herrington & Sutcliffe LLP

CFPB denies small-dollar lender’s request to set aside CID

The CFPB recently denied a lender’s request to set aside or modify a civil investigative demand (CID) issued in January related to its short-term and small-dollar lending practices. The lender’s redacted petition asserted...more

Ballard Spahr LLP

Kraninger sets tone for vigorous enforcement agenda in decisions on five petitions to modify or set aside CFPB CIDs

Ballard Spahr LLP on

Consumer advocates have heavily criticized Director Kraninger and former Acting Director Mick Mulvaney for taking a much less aggressive attitude towards enforcement than former Director Cordray. ...more

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