12 USC 5562

U.S Code last checked for updates: Nov 22, 2024

§ 5562.

(a)

Joint investigations

(1)

In general

(2)

Fair lending

(b)

Subpoenas

(1)

In general

(2)

Failure to obey

(3)

Contempt

(c)

Demands

(1)

In general

Whenever the Bureau has reason to believe that any person may be in possession, custody, or control of any documentary material or tangible things, or may have any information, relevant to a violation, the Bureau may, before the institution of any proceedings under the Federal consumer financial law, issue in writing, and cause to be served upon such person, a civil investigative demand requiring such person to—

(A)

produce such documentary material for inspection and copying or reproduction in the form or medium requested by the Bureau;

(B)

submit such tangible things;

(C)

file written reports or answers to questions;

(D)

give oral testimony concerning documentary material, tangible things, or other information; or

(E)

furnish any combination of such material, answers, or testimony.

(2)

Requirements

(3)

Production of documents

Each civil investigative demand for the production of documentary material shall—

(A)

describe each class of documentary material to be produced under the demand with such definiteness and certainty as to permit such material to be fairly identified;

(B)

prescribe a return date or dates which will provide a reasonable period of time within which the material so demanded may be assembled and made available for inspection and copying or reproduction; and

(C)

identify the custodian to whom such material shall be made available.

(4)

Production of things

Each civil investigative demand for the submission of tangible things shall—

(A)

describe each class of tangible things to be submitted under the demand with such definiteness and certainty as to permit such things to be fairly identified;

(B)

prescribe a return date or dates which will provide a reasonable period of time within which the things so demanded may be assembled and submitted; and

(C)

identify the custodian to whom such things shall be submitted.

(5)

Demand for written reports or answers

Each civil investigative demand for written reports or answers to questions shall—

(A)

propound with definiteness and certainty the reports to be produced or the questions to be answered;

(B)

prescribe a date or dates at which time written reports or answers to questions shall be submitted; and

(C)

identify the custodian to whom such reports or answers shall be submitted.

(6)

Oral testimony

Each civil investigative demand for the giving of oral testimony shall—

(A)

prescribe a date, time, and place at which oral testimony shall be commenced; and

(B)

identify a Bureau investigator who shall conduct the investigation and the custodian to whom the transcript of such investigation shall be submitted.

(7)

Service

Any civil investigative demand issued, and any enforcement petition filed, under this section may be served—

(A)

by any Bureau investigator at any place within the territorial jurisdiction of any court of the United States; and

(B)

upon any person who is not found within the territorial jurisdiction of any court of the United States—

(i)

in such manner as the Federal Rules of Civil Procedure prescribe for service in a foreign nation; and

(ii)

to the extent that the courts of the United States have authority to assert jurisdiction over such person, consistent with due process, the United States District Court for the District of Columbia shall have the same jurisdiction to take any action respecting compliance with this section by such person that such district court would have if such person were personally within the jurisdiction of such district court.

(8)

Method of service

Service of any civil investigative demand or any enforcement petition filed under this section may be made upon a person, including any legal entity, by—

(A)

delivering a duly executed copy of such demand or petition to the individual or to any partner, executive officer, managing agent, or general agent of such person, or to any agent of such person authorized by appointment or by law to receive service of process on behalf of such person;

(B)

delivering a duly executed copy of such demand or petition to the principal office or place of business of the person to be served; or

(C)

depositing a duly executed copy in the United States mails, by registered or certified mail, return receipt requested, duly addressed to such person at the principal office or place of business of such person.

(9)

Proof of service

(A)

In general

(B)

Return receipts

(10)

Production of documentary material

(11)

Submission of tangible things

(12)

Separate answers

(13)

Testimony

(A)

In general

(i)

Oath and recordation

(ii)

Transcription

(iii)

Transmission to custodian

(B)

Parties present

(C)

Location

(D)

Attorney representation

(i)

In general

(ii)

Authority

(iii)

Objections

(iv)

Refusal to answer

If a person described in clause (i) refuses to answer any question—

(I)

the Bureau may petition the district court of the United States pursuant to this section for an order compelling such person to answer such question; and

(II)

if the refusal is on grounds of the privilege against self-incrimination, the testimony of such person may be compelled in accordance with the provisions of section 6004 of title 18.

(E)

Transcripts

For purposes of this subsection—

(i)

after the testimony of any witness is fully transcribed, the Bureau investigator shall afford the witness (who may be accompanied by an attorney) a reasonable opportunity to examine the transcript;

(ii)

the transcript shall be read to or by the witness, unless such examination and reading are waived by the witness;

(iii)

any changes in form or substance which the witness desires to make shall be entered and identified upon the transcript by the Bureau investigator, with a statement of the reasons given by the witness for making such changes;

(iv)

the transcript shall be signed by the witness, unless the witness in writing waives the signing, is ill, cannot be found, or refuses to sign; and

(v)

if the transcript is not signed by the witness during the 30-day period following the date on which the witness is first afforded a reasonable opportunity to examine the transcript, the Bureau investigator shall sign the transcript and state on the record the fact of the waiver, illness, absence of the witness, or the refusal to sign, together with any reasons given for the failure to sign.

(F)

Certification by investigator

(G)

Copy of transcript

(H)

Witness fees

(d)

Confidential treatment of demand material

(1)

In general

(2)

Disclosure to Congress

(e)

Petition for enforcement

(1)

In general

(2)

Service of process

(f)

Petition for order modifying or setting aside demand

(1)

In general

(2)

Compliance during pendency

(3)

Specific grounds

(g)

Custodial control

(h)

Jurisdiction of court

(1)

In general

(2)

Appeal

(Pub. L. 111–203, title X, § 1052, July 21, 2010, 124 Stat. 2019.)

cite as: 12 USC 5562