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Volume 25 - Number 11

May 26, 2014

How to Respond to a CFPB Civil Investigative Demand

Given the expanding reach of the CFPB’s regulatory oversight wingspan, many types of entities beyond a traditional financial services company could find themselves subjected to unanticipated and unwanted scrutiny in the form of a civil investigative demand from the bureau. Attorneys at the Latham & Watkins law firm in Washington, DC, recently detailed how affected companies should plan and respond to such a demand. First, upon receipt of a CID, a company should immediately begin to develop a response plan, including an analysis of the company’s ability to respond in a timely manner. “Important response deadlines come up in a matter of days after service of a CID, so delays can impair a company’s ability to effectively respond in a ...

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