CFPB's Broad Doc Request Ruffles Feathers

Law360, New York (September 25, 2012, 7:58 PM EDT) -- A recent battle over a sweeping Consumer Financial Protection Bureau document request in its investigation of mortgage company PHH Corp. publicly revealed the new agency's unusually broad probes of company records, a practice attorneys say will continue until the CFPB gains more experience.

Since the CFPB began operation over a year ago, companies from all sectors that the agency regulates have raised concerns about the broad sweep of its enforcement division's civil investigative demands, which have been broader than similar information requests from other regulators. The...
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