The Consumer Financial Protection Bureau recently took the Accrediting Council for Independent Colleges and Schools to court over the company's refusal to comply with a so-called civil investigative demand. In taking the rare step of going to court, the consumer-protection agency has begun a legal battle that could test its investigative authority at a time when corporate lawyers and critics on Capitol Hill are trying to roll back the bureau's jurisdiction. The accreditor contends the CFPB doesn't have jurisdiction over its industry.
November 10, 2015 at 11:37 AM
1 minute read
The original version of this story was published on Law.Com
“As a new agency, it’s natural to test the limits of your jurisdiction, because it’s all brand new,” Morris said. “So it does appear that they’re testing the limits of their jurisdiction and seeing how far they can take it in the interest of protecting consumers.”
The CFPB’s petition to enforce the civil investigative demand against Accrediting Council for Independent Colleges and Schools is posted below.
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