Civil Investigative Demand Reform Act of 2025

Referred to the House Committee on Financial Services.

Bill 119 HR 1653, also known as the "Civil Investigative Demand Reform Act of 2021," aims to make changes to the civil investigative demand (CID) process of the Bureau of Consumer Financial Protection (BCFP).

The bill seeks to increase transparency and accountability in the CID process by requiring the BCFP to provide more detailed information to the subjects of the investigation. This includes specifying the nature of the conduct under investigation, the applicable laws that may have been violated, and the reasons for issuing the CID.

Additionally, the bill aims to limit the scope of CIDs to prevent overreach by the BCFP. It requires the BCFP to tailor CIDs to the specific information needed for the investigation and prohibits the agency from using CIDs to gather information that is not relevant to the investigation. Furthermore, the bill includes provisions to protect the rights of the subjects of the investigation, such as allowing them to challenge the CID in court if they believe it is overly broad or burdensome. It also requires the BCFP to provide regular updates to the subjects of the investigation on the status of the CID. Overall, the goal of Bill 119 HR 1653 is to ensure that the CID process is fair and transparent, while also protecting the rights of those under investigation by the BCFP.