Potential Revamp Of CFPB Civil Investigative Demand Process

By Jean Veta, Jason Grimes and Eitan Levisohn (January 31, 2018, 1:09 PM EST) -- On Jan. 24, 2018, the Consumer Financial Protection Bureau published a request for information (RFI) seeking comment on its civil investigative demand (CID) process.[1] In the RFI, the CFPB recognizes that "responding to a CID can impose burdens on the recipients" and expresses interest in how the CID process can be "updated, streamlined, or revised" to achieve the CFPB's objectives "while minimizing burdens."[2] This signals the bureau's potential openness to revising its CID process, which has been regarded as difficult, expensive and time-consuming by many institutions. Indeed, given Acting Director Mick Mulvaney's recent email to CFPB staff emphasizing that the bureau must work for covered entities as well as consumers, it is likely that the bureau will be receptive to comments by institutions expressing concerns with the current process and seeking improvements....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!