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CFPB

RIN: 3170-AA29

Publication ID: 2012

Title: ●Temporary Cease and Desist Orders (TCDO)
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 or 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, or to take affirmative action to correct its practices or records, and is appealable in Federal district court within 10 days of its service. The CFPB is developing proposed rules to clarify certain procedural aspects of these provisions.
Agency: Consumer Financial Protection Bureau(CFPB)	Priority: Info./Admin./Other
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: Undetermined	Unfunded Mandates: No
CFR Citation: Not Yet Determined (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 12 USC 5563

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	03/00/2013

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: David Hendricks Office of Enforcement Consumer Financial Protection Bureau Phone:202 435-7710