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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 CFPBís 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 companyís ability to respond in a timely manner. ďImportant response deadlines come up in a matter of days after service of a CID, so delays can impair a companyís ability to effectively respond in a ...

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What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.
I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.
Not bad, but he needs to take his time making additional changes.
We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!

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