August 05, 2013 | Law360

3 Key Aspects of the CFPB's Enforcement Authority

1 min

Venable partner and former CFPB enforcement attorney Allyson Baker published "3 Key Aspects of the CFPB's Enforcement Authority" in Law360 on August 5, 2013.

There are three key aspects to the Consumer Financial Protection Bureau’s enforcement authority that should spur individuals or companies that receive a civil investigative demand (CID) from the CFPB to take these demands seriously.

  1. The CFPB has authority to seek the same remedies in district court as it seeks in its administrative forum;
  2. The DOJ recently brought its first criminal case based on a CFPB referral; and
  3. The CFPB’s jurisdiction extends beyond large banks and nonbanks that provide consumer financial services.

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