Coalition of state Attorneys General oppose efforts to weaken CFPB’s investigative authority

Federal Issues State Attorney General CFPB CIDs

On April 25, a coalition of 16 state Attorneys General issued a comment letter responding to the CFPB’s Request for Information (RFI) on Civil Investigative Demands (CIDs). (See previous InfoBytes coverage on the RFI here and here.) According to the letter, the coalition opposes “any effort to curtail the Bureau’s civil investigative demand authority,” noting, among other things, that (i) the CFPB’s implementation of its final rule relating to investigations was “non-controversial” and based on established FTC enforcement practices; (ii) federal agencies are allowed to fulfill their mandates through the legislative grant of civil investigative demand authority; (iii) judicial supervision over CIDs protects recipients’ rights; and (iv) the CFPB “has used its investigative authority responsibly and effectively.”