ETA Submits Comments to the CFPB Regarding its Civil Investigative Demand (CID) Process

The Electronic Transactions Association (“ETA”) submits these comments in response to the Consumer Financial Protection Bureau (“CFPB”) Request for Information (“RFI”) Regarding the Bureau’s Civil Investigative Demand (“CID”) Processes.

ETA is the leading trade association for the payments industry, representing over 500 companies that offer electronic transaction processing products and services. ETA’s members include financial institutions, mobile payment service providers, mobile wallet providers and non-bank online lenders that make commercial loans, primarily to small businesses, either directly or in partnership with other lenders. ETA member companies are creating innovative offerings in financial services, revolutionizing the way commerce is conducted with safe, convenient and rewarding payment solutions and lending alternatives.

Read the full comments letter here.