3 Key Aspects Of The CFPB's Enforcement Authority

Law360, New York (August 5, 2013, 12:09 PM EDT) -- There are three key aspects to the Consumer Financial Protection Bureau's enforcement authority that should spur individuals or companies that receive a civil investigative demand (CID) from the CFPB to take these demands seriously.

CIDs are evidence-gathering mechanisms with far-reaching consequences. This is especially true when the CID recipient is also the probable subject of the CFPB's investigation and not a third party. The likely — or even potential — subject of an investigation should certainly consider whether it faces liability and a possible CFPB lawsuit.

1. The CFPB Has Authority to Seek the Same Remedies in District Court as It...

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