The CFPB has denied a recent petition from 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 bureau, to modify or set aside the action. “Petitioners raise a number of objections to the CID, none of which warrants setting aside or modifying the CID,” said the bureau. First, the petitioners contend that the CID’s notification of purpose is too vague and thus fails to comply with legal and regulatory requirements, according to the CFPB’s decision. The bureau said the related statute and regulation do not require a detailed narrative and that it may draw the boundaries of its investigation quite generally. Second, the petitioners contend ...