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Financial Investigations Reform: Limits and Citizen Rights

This act modifies how the Bureau of Consumer Financial Protection conducts investigations. It sets time limits for investigations, demands more precision in information requests, and grants citizens more rights to defense and appeal Bureau decisions. The goal is to enhance transparency and fairness in investigative processes.
Key points
Investigations by the Bureau of Consumer Financial Protection must be initiated within 6 years of a violation.
Information requests from citizens must be more specific and based on particular facts.
Citizens will have the right to ask the Bureau questions about the scope of demands and receive a response within 20 days.
Petitions to modify or set aside a demand will be treated as confidential.
Citizens will be able to seek judicial review if the Bureau denies their petition to modify or set aside a demand.
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Expired
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Additional Information
Print number: 118_HR_10036
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2024-10-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Civil Investigative Demand Reform Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10036.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-10-25.

What are the main provisions?

Key points include:

  • Investigations by the Bureau of Consumer Financial Protection must be initiated within 6 years of a violation.
  • Information requests from citizens must be more specific and based on particular facts.
  • Citizens will have the right to ask the Bureau questions about the scope of demands and receive a response within 20 days.
  • Petitions to modify or set aside a demand will be treated as confidential.
  • Citizens will be able to seek judicial review if the Bureau denies their petition to modify or set aside a demand.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Barr, Andy [R-KY-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Courts and Law Economy