Consumer Financial Protection Bureau v. Future Income Payments, LLC

ORDER (1) GRANTING THE CONSUMER Financial protection BUREAU’S PETITION TO ENFORCE CIVIL INVESTIGATIVE DEMAND AND (2) DENYING FUTURE INCOME PAYMENTS’ MOTION TO STAY CASE (Docs. 1, 27)

Before the Court is the Consumer Financial Protection Bureau’s (CFPB) Petition to Enforce Civil Investigative Demand. (Pet., Doc. 1.) Respondent Future Income Payments, LLC filed an Opposition (Opp’n, Doc. 26), and the CFPB replied (Reply, Doc. 28). Also before the Court is Future Income Payments’ Motion to Stay Case. (Mot., Doc. 27; Opp’n, Doc. 39; Reply, Doc. 44.) For the following *965 reasons, the Court GRANTS the CFPB’s Petition and DENIES Future Income Payments’ Motion to Stay Case.

I. BACKGROUND

In the past few years, the income stream market has come under sharp scrutiny for allegedly marketing loans at undisclosed, exorbitant interest rates to vulnerable populations, including veterans and the elderly. See John Doe Co. v. CFPB, 849 F.3d 1129, 1130 (D.C. Cir. 2017); U.S. Gov’t Accountability Off., GAO-14-420, Pension Advance Transactions: Questionable Business Practices Identified (2014), http://www.gao.gov/assets/670/663800.pdf. Like several other purchasers and sellers of income streams,…