CFPB Seeks Feedback on Civil Investigative Demands

The Consumer Financial Protection Bureau today issued a request for information seeking feedback from the public on its processes related to civil investigative demands, which are issued during enforcement actions. The request came after Acting Director Mick Mulvaney last week announced plans to undertake a broad public feedback initiative to ensure that the bureau is fulfilling its statutory requirement to protect consumers.

The RFI seeks information on how the CFPB’s CID processes may be updated, streamlined or revised while minimizing burdens on CID recipients, as well as how the CFPB could better align its processes with other agencies with similar authorities. Commenters are invited to provide specific suggestions on processes that could be modified, as well as feedback on any aspects of the bureau’s processes that should not be changed. For more information, contact ABA’s Virginia O’Neill.