CFPB Barred, For Now, From Naming Company Under Investigation

Another financial-sector company is fighting to keep its name secret as it challenges the power of the Consumer Financial Protection Bureau to bring an enforcement action. The company, identified only as "John Doe" in a Washington federal trial court, offers pension advance products that allow consumers to receive a lump-sum payment in exchange for a portion, or all, of their future pension. A judge Friday temporarily blocked the consumer agency from revealing any identifying information about the company.

“We want the agency to push the pause button until this cloud of unconstitutionality clears,” Jones said.

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