Sponsors (7)
The bill increases procedural protections, confidentiality, and avenues to limit burdensome CFPB information demands for recipients—reducing legal and compliance risk for businesses—while raising the risk that the CFPB's investigative and enforcement effectiveness and public transparency will be weakened.
Recipients of CFPB civil investigative demands (financial institutions, small businesses, government contractors) gain clearer procedural protections, faster response obligations for the Bureau, and an independent judicial forum to contest denials—reducing legal uncertainty and strengthening checks on CFPB enforcement.
Recipients (financial institutions and small businesses) can ask courts to set aside burdensome or duplicative CIDs, which can lower compliance costs and reduce the administrative burden of responding to overly broad information demands.
CID petition contents are protected from public disclosure, helping petitioners avoid reputational harm and preserving privileged or sensitive information.
Faster mandatory response windows for the CFPB could strain agency staff and resources, slowing other enforcement activities and reducing overall oversight capacity (potentially increasing risk to consumers and shifting costs to taxpayers).
Broadening statutory grounds to set aside CIDs makes it easier for recipients to avoid or limit information requests, which could hinder the Bureau's ability to obtain necessary evidence and impede consumer-protection investigations and enforcement.
Expanded confidentiality for petition content reduces public transparency about investigations and enforcement priorities, limiting public oversight and insight into how the Bureau uses its authority.
Based on analysis of 2 sections of legislative text.
Introduced February 27, 2025 by Garland H. Barr · Last progress February 27, 2025
Adds new procedural protections for people and companies who receive civil investigative demands (CIDs) from the Consumer Financial Protection Bureau (CFPB). The changes let an advising attorney ask the Bureau questions about a demand, expand confidentiality for petitions, broaden the legal grounds to challenge a CID as improper or unduly burdensome, and make denials of challenges subject to judicial review. The bill also updates several CID timing and requirement rules (text not shown in the excerpt) and explicitly names the Bureau as the responding agency. Overall, it increases recipients' ability to seek modifications or to have demands set aside and creates new response duties for the CFPB.