Selling Source, LLC, a lead-generation company in Las Vegas, and Tim Madsen, a company employee and recipient of a civil investigative demand from the CFPB, recently petitioned the bureau to modify or set aside entirely the CID. First, the company argues that the CID should be set aside since it is not a “covered person” under the bureau’s authority because it does not offer or provide a “financial product or service” as spelled out in the Dodd-Frank Act. In its petition to the bureau, the company notes that a “covered person” is defined by Dodd-Frank as “any person that engages in offering or providing a consumer financial product or service,” or acts as a “service provider” and is a corporate ...