US HB1653

Imposes a 6-year statute of limitations on CFPB civil investigative demands, requiring demands be issued within 6 years of the date of the alleged violation

Requires CFPB civil investigative demands to describe the conduct under investigation with specific reference to particular facts, rather than general descriptions

Allows attorneys representing parties receiving demands to submit questions about scope or breadth, with the CFPB required to respond within 20 days or before the return date

Expands grounds for setting aside demands to include constitutional rights, undue burden/disproportionate expense, unreasonable duplication, or availability of less burdensome alternative sources

Makes CFPB denials of petitions to modify or set aside demands subject to judicial review, and extends confidential treatment to petition contents