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CFPB RIN: 3170-AA29 Publication ID: Spring 2014 
Title: Rules of Practice for Issuance of Temporary Cease-and-Desist Orders 
Abstract: Under section 1053(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB is authorized to issue a temporary cease and desist order against a person subject to a notice of charges if: (1) The violation specified in the notice of charges is likely to cause the person to be insolvent or otherwise prejudice the interests of consumers before the completion of the underlying proceedings or (2) the person's books and records are so incomplete or inaccurate that the CFPB is unable to determine the financial condition of that person or the details or purpose of any transaction or transactions that may have a material effect on that person's financial condition. Such temporary order may require the person to cease and desist from any violation or practice, and/or to take affirmative action to correct its practices or records, and is appealable in Federal district court within 10 days of its service. An interim final rule implementing section 1053(c) was published in the Federal Register on September 26, 2013. The CFPB is reviewing the comments received on the rule. 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Info./Admin./Other 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 12 CFR pt. 1081 subpart E (To search for a specific CFR, visit the Code of Federal Regulations.
Legal Authority: 12 USC 5563(e); 12 USC 5512(b) 
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  09/26/2013  78 FR 59163 
Interim Final Rule Comment Period End  11/25/2013   
Final Rule  05/00/2014   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
John Coleman
Legal Division
Consumer Financial Protection Bureau
Phone:202 435-7550

 
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