April 23, 2019

National Law Journal Quotes Allyson Baker on the Consumer Financial Protection Bureau’s Amended Subpoena Policy

1 min

On April 23, 2019, National Law Journal quoted Allyson Baker on the Consumer Financial Protection Bureau's (CFPB) announcement that it is making adjustments to its policy regarding civil investigative demands (CIDs) to ensure that the demands include more clarity about the conduct under investigation.

According to the article, the change is a response to a long-standing gripe that the demands were overly broad and burdensome on companies, and to court decisions that brushed back the bureau, spiking its investigative demands on the ground that they were overly broad.

Previously, in a decision that would be widely cited as companies challenged the CFPB's investigative demands, the U.S. Court of Appeals for the D.C. Circuit rejected the agency's investigation of the Accrediting Council for Independent Colleges and Schools (ACICS). The decision upheld a judge's ruling that the CFPB had strayed outside its jurisdiction.

Baker, who represented ACICS, said the revised policy could be read as a harbinger of reinvigorated enforcement.

"You could also see it as a statement that the bureau intends to be an enforcer of consumer financial service laws going forward. It gives notice that the bureau is back in business insofar as issuing CIDs."