Since its 2011 inception, the Consumer Financial Protection Bureau has been aggressive in regulating and wielding its power. The Bureau has sent out an unknown number of Civil Investigative Demands (CIDs) to those companies it regulates. It asks for an enormous amount of data when opening an enforcement investigation—but companies do have some input into the breadth of the request for information if they come into the investigation well prepared.

Christopher J. Willis, a partner in Ballard Spahr's Atlanta office, told Law360: "Responding to a CID is an exercise in diplomacy and not combat, in my opinion."

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Consumer Financial Services
Mortgage Banking