Volume 25 - Number 3
February 3, 2014
Bureau Denies CheckSmart Request to Modify Legal Probe
In a development that could be quite instructive for any recipient of a CFPB civil investigative demand, the bureau has denied the petition filed by CheckSmart Financial Company this past September to modify or set aside a CID it received from the agency in 2013. First, CheckSmart argued that the bureaus CID does not provide sufficient notice of a lawfully authorized purpose because it did not adequately describe the conduct under investigation, and thus fails to comply with relevant portions of the Dodd-Frank Act. However, citing its rules relating...
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