CFPB "Can Improve" Recordkeeping and Notifications of Purpose in Civil Investigative Demands, OIG Finds

On September 20, 2017, the Federal Reserve’s Office of Inspector General (“OIG”) issued a report on the CFPB’s process for issuing Civil Investigative Demands (“CID”). The OIG found that the CFPB “generally complied” with requirements for issuing CIDs, with two exceptions. First, the CFPB failed to use notifications of purpose that adequately informed recipients about... Continue Reading…...(read more)

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