The Ninth Circuit recently issued its opinion in CFPB v. Great Plains Lending, LLC, et al., in which three tribal-affiliated, for-profit lending companies (“Tribal Lenders”) challenged the authority of the CFPB to issue civil investigative demands (CIDs) against Native American tribes.

In 2012, the CFPB issued CIDs against the Tribal Lenders regarding their advertising, marketing, origination, and collection of small-dollar loan products.… Continue Reading

A California federal court recently issued an order granting the CFPB’s petition to enforce its civil investigative demands (CIDs) issued to three tribally-affiliated payday lenders.  However, the court also granted the lenders’ request for a stay pending their appeal to the Ninth Circuit.  Although the CFPB did not oppose the stay, the court nevertheless found that if its decision was wrong, the lenders were likely to suffer irreparable harm because of the disclosure of sensitive proprietary documents to the CFPB whereas the CFPB would not be injured by a temporary delay.… Continue Reading