12 CFR 1091.102
§ 1091.102 Issuance of Notice of Reasonable Cause.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 1091.102, § 1091.102 Issuance of Notice of Reasonable Cause, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/50002
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Full text
(a) An initiating official is authorized to issue a Notice of Reasonable Cause to a person stating that the Bureau may have reasonable cause to determine that the respondent is a nonbank covered person that is engaging, or has engaged, in conduct that poses risks to consumers with regard to the offering or provision of consumer financial products or services.
(b) A Notice of Reasonable Cause shall be based on:
(1) Complaints collected through the system under 12 U.S.C. 5493(b)(3); or
(2) Information from other sources.
(c) Except as provided in § 1091.111, a Notice of Reasonable Cause shall contain the information set forth in § 1091.103, and be served on respondent as described in § 1091.104.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.