What the Consumer Financial Protection Bureau ... - Venable LLP

KEY STEPS TO RESPONDING TO ANINVESTIGATION (CONT’D)5. Petition to Modify orSet Aside the CID –• May file a petition tomodify or set aside aninformation request ifthe request is filed within20 days of receipt of theCID unless an extensionis granted by the headof the Office ofEnforcement.6. ElectronicallyStored Information –• The identification, collection,review, and processing ofelectronically storedinformation, such as emails,poses certain challenges onmost businesses.• The burden and costcontinues to increase as theamount of electronicallystored information that theaverage organization orcustodian regularly maintainscontinues to rise.