Others have chosen not to wait. Ahead of that initial deadline, lobbying groups and past targets of CFPB investigations have weighed in with calls for more tailored subpoenas and a change that would make companies more willing to push back against investigations: keeping records of challenges to civil investigative demands off the agency’s website, away from the public eye.
Under the current scheme, defense lawyers have long griped that the public posting of such appeals forces their clients to essentially pick their poison: push back and confront the consequences of an early disclosure of the CFPB's investigation, or sit back and comply with a subpoena they see as flawed.
"You either agree to produce what is perceived to be unreasonable or unfair and agree to all of those terms. Or you don't agree to them and you risk the investigation becoming public and the reputational harm that comes with that. That seems extremely unfair," said Ms. Baker.