NAFSA Recommends CFPB Defer To Tribes During Civil Investigative Demand Process

NAFSA recently submitted a comment to a Consumer Financial Protection Bureau (CFPB) request for information (RFI) regarding the agency’s process for civil investigative demands (CIDs). The full comment is available below.

The RFI is part of a larger effort by Acting CFPB Director Mick Mulvaney to reimagine the consumer agency by seeking public input “to ensure the Bureau is fulfilling its proper and appropriate functions to protect consumers.” To further these goals, the Bureau has already announced a dozen different RFIs, reopened consideration of the Payday Rule, and reassessed enforcement actions.

Regarding the CID RFI, NAFSA Executive Director Gary Davis said, “NAFSA is excited to comment on the CFPB’s RFI and contribute to the important education of federal officials in a crucial area of tribal economic development. We look forward to building a more informed dialogue with the CFPB.”