ARTICLE
5 March 2018

US Consumer Financial Protection Bureau Issues Information Request For Civil Investigative Demands

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On January 26, 2018, the U.S. Consumer Financial Protection Bureau published a notice in the Federal Register requesting public comment regarding the agency's Civil Investigative Demands (CID) processes.
United States Finance and Banking

On January 26, 2018, the U.S. Consumer Financial Protection Bureau published a notice in the Federal Register requesting public comment regarding the agency's Civil Investigative Demands (CID) processes. Further to statements issued by CFPB Acting Director Mick Mulvaney, the request for information provides an opportunity for the public to provide comments aimed at improving and streamlining the CID processes for consumers and financial institutions. The request for information asks for comment regarding a number of aspects of the CFPB's CID processes, including suggestions for modifying or updating CID processes, proposed improvements to how information is conveyed to entities that receive CIDs and suggestions regarding the timing and deadlines under the existing CID framework. Comments are due by March 27, 2018.

The CFPB's Information Request is available at: https://www.gpo.gov/fdsys/pkg/FR-2018-01-26/pdf/2018-01435.pdf.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More