The Fifth Circuit Court of Appeals determined that a Consumer Financial Protection Bureau civil investigative demand (CID) was not specific enough to satisfy statutory requirements in a ruling overturning a lower court’s decision.
The bureau filed a petition with the Northern District Court of Texas to enforce the CID, which the court granted, rejecting Public Data’s arguments that the CID failed to provide fair notice regarding the bureau’s investigation into a possible violation and that the bureau lacked jurisdiction to engage in such an investigation.
Learn more details about the CID and what arguments resonated with the circuit court.