Apparently undeterred by its recent loss in a case seeking to enforce a Civil Investigative Demand (CID) against a college accrediting body, earlier this week the Consumer Financial Protection Bureau (CFPB) filed another district court action seeking to enforce a CID against a company that asserts that the CFPB lacks jurisdiction over its conduct – J.G. Wentworth, LLC, which purchases structured settlements and annuity payments. See Petition to Enforce Civil Investigative Demand (“Petition”), CFPB v. J.G. Wentworth, 2:16-cv-02773-CDJ (E.D. Pa.).  The case presents another example of the CFPB asserting a broad view of its jurisdiction and presents another opportunity for a court to clarify those limits and how they apply in the investigative context.
Continue Reading If at First You Don’t Succeed, Try, Try Again: The CFPB Pushes Its Jurisdiction Once More