Industry professionals, regulators and other interested parties have been answering the call for evidence launched by the Consumer Financial Protection Bureau (CFPB) in January, starting with the bureau’s Request for Information (RFI) about its civil investigative demand (CID) processes.
Some industry commenters called the CID process burdensome and an example of the CFPB’s outsized oversight authority. There were some apparent differences in opinion among federal and state regulators about what should or should not be done to the CID process.
Find out more about the feedback submitted to the bureau.