Proposed Rule2025-08344

Rules of Practice for Adjudication Proceedings; Rescission

Primary source

Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.

Published
May 13, 2025

Issuing agencies

Consumer Financial Protection Bureau

Abstract

The Consumer Financial Protection Bureau (Bureau) is proposing to rescind the amendments it adopted to the Rules of Practice for Adjudication Proceedings (Rules of Practice) on February 22, 2022, and March 29, 2023.

Full Text

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<title>Federal Register, Volume 90 Issue 91 (Tuesday, May 13, 2025)</title>
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[Federal Register Volume 90, Number 91 (Tuesday, May 13, 2025)]
[Proposed Rules]
[Pages 20241-20261]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-08344]


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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

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Federal Register / Vol. 90, No. 91 / Tuesday, May 13, 2025 / Proposed 
Rules

[[Page 20241]]



CONSUMER FINANCIAL PROTECTION BUREAU

12 CFR Part 1081

[Docket No. CFPB-2025-0012]
RIN 3170-AB33


Rules of Practice for Adjudication Proceedings; Rescission

AGENCY: Consumer Financial Protection Bureau.

ACTION: Proposed rule; request for comment.

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SUMMARY: The Consumer Financial Protection Bureau (Bureau) is proposing 
to rescind the amendments it adopted to the Rules of Practice for 
Adjudication Proceedings (Rules of Practice) on February 22, 2022, and 
March 29, 2023.

DATES: Comments must be received on or before June 12, 2025.

ADDRESSES: You may submit responsive information and other comments, 
identified by Docket No. CFPB-2025-0012, by any of the following 
methods:
    <bullet> Federal eRulemaking Portal: <a href="https://www.regulations.gov">https://www.regulations.gov</a>. 
Follow the instructions for submitting comments. A brief summary of 
this document will be available at <a href="https://www.regulations.gov/docket/CFPB-2025-0012">https://www.regulations.gov/docket/CFPB-2025-0012</a>.
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#0e3c3e3c3b23405e5c43234f6a647b6a676d6f7a676160235e7c616d6b6b6a6760697d4e6d687e6c20696178"><span class="__cf_email__" data-cfemail="bc8e8c8e8991f2eceef191fdd8d6c9d8d5dfddc8d5d3d291ecced3dfd9d9d8d5d2dbcffcdfdaccde92dbd3ca">[email&#160;protected]</span></a>. 
Include Docket No. CFPB-2025-0012 in the subject line of the message.
    <bullet> Mail/Hand Delivery/Courier: Comment Intake--Rules of 
Practice for Adjudication Proceedings, c/o Legal Division Docket 
Manager, Consumer Financial Protection Bureau, 1700 G Street NW, 
Washington, DC 20552.
    Instructions: The Bureau encourages the early submission of 
comments. All submissions should include the agency name and docket 
number. Because paper mail is subject to delay, commenters are 
encouraged to submit comments electronically. In general, all comments 
received will be posted without change to <a href="https://www.regulations.gov">https://www.regulations.gov</a>. 
All submissions, including attachments and other supporting materials, 
will become part of the public record and subject to public disclosure. 
Proprietary information or sensitive personal information, such as 
account numbers or Social Security numbers, or names of other 
individuals, should not be included. Submissions will not be edited to 
remove any identifying or contact information.

FOR FURTHER INFORMATION CONTACT: George Karithanom, Regulatory 
Implementation and Guidance Program Analyst, Office of Regulations, at 
202-435-7700. If you require this document in an alternative electronic 
format, please contact <a href="/cdn-cgi/l/email-protection#6724213725382604040214140e050e0b0e131e270401170549000811"><span class="__cf_email__" data-cfemail="88cbced8cad7c9ebebedfbfbe1eae1e4e1fcf1c8ebeef8eaa6efe7fe">[email&#160;protected]</span></a>.

SUPPLEMENTARY INFORMATION:

I. Discussion

    The Bureau hereby issues this notice of proposed rulemaking, which 
proposes to rescind the amendments to its Rules of Practice for 
Adjudication Proceedings that the Bureau adopted on February 22, 2022, 
at 87 FR 10028 and on March 29, 2023, at 88 FR 18382. These changes 
expanded parties' opportunities to conduct depositions in adjudication 
proceedings and made amendments concerning timing and deadlines, the 
content of answers, the scheduling conference, bifurcation of 
proceedings, the process for deciding dispositive motions, and 
requirements for issue exhaustion, as well as other technical changes. 
The Bureau proposes to repeal these amendments in full and seeks 
comment on that proposal.
    The Bureau has particular concerns about the provisions of the 2022 
and 2023 amendments that transferred authority to decide dispositive 
motions from the hearing officer who is presiding over the proceeding 
(normally an administrative law judge) to the Director. A dispositive 
motion includes a motion to dismiss or a motion for summary 
disposition. Under the 2022 and 2023 amendments, a party must file a 
dispositive motion with the Director, and the Director has the option 
of either deciding the motion or referring it to the hearing officer. 
This approach is atypical in the Executive Branch, where the norm is 
for hearing officers to decide dispositive motions, and industry 
commenters criticized it for concentrating authority in the Director at 
the expense of the hearing officer. With respect to other changes made 
by the amendments, the Bureau's preliminary view subject to considering 
comments is that they were largely unnecessary.

II. Section 1022(b)(2) Analysis

    In developing this rule, the Bureau has considered the rule's 
benefits, costs, and impacts in accordance with section 1022(b)(2)(A) 
of the Consumer Financial Protection Act (CFPA).\1\ The Bureau 
discussed the hypothetical benefits and costs of a more- or less-cost-
effective process for adjudication proceedings in the February 2022 
rule. In practice, no administrative proceedings have been conducted 
under the Rules of Practice since the 2022 and 2023 amendments, and 
only two cases have been brought through the administrative 
adjudication process from start to finish since the process was 
established in 2012. As such, any benefits, costs, or impacts to 
consumers or covered persons are likely to be minimal.
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    \1\ 12 U.S.C. 5512(b)(2)(A). Whether section 1022(b)(2)(A) is 
applicable to this rule is unclear, but in order to inform the 
rulemaking more fully the Bureau performed the described analysis.
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List of Subjects in 12 CFR Part 1081

    Administrative practice and procedure, Banks, banking, Consumer 
protection, Credit unions, Law enforcement, National banks, Savings 
associations, Trade practices.

Authority and Issuance

0
As discussed above, the Bureau proposes to revise 12 CFR part 1081 to 
read as follows:

PART 1081--RULES OF PRACTICE FOR ADJUDICATION PROCEEDINGS

Subpart A--General Rules
Sec.
1081.100 Scope of the rules of practice.
1081.101 Expedition and fairness of proceedings.
1081.102 Rules of construction.
1081.103 Definitions.
1081.104 Authority of the hearing officer.
1081.105 Assignment, substitution, performance, disqualification of 
hearing officer.
1081.106 Deadlines.
1081.107 Appearance and practice in adjudication proceedings.
1081.108 Good faith certification.
1081.109 Conflict of interest.
1081.110 Ex parte communication.
1081.111 Filing of papers.

[[Page 20242]]

1081.112 Formal requirements as to papers filed.
1081.113 Service of papers.
1081.114 Construction of time limits.
1081.115 Change of time limits.
1081.116 Witness fees and expenses.
1081.117 Bureau's right to conduct examination, collect information.
1081.118 Collateral attacks on adjudication proceedings.
1081.119 Confidential information; protective orders.
1081.120 Settlement.
1081.121 Cooperation with other agencies.
Subpart B--Initiation of Proceedings and Prehearing Rules
1081.200 Commencement of proceeding and contents of notice of 
charges.
1081.201 Answer and disclosure statement and notification of 
financial interest.
1081.202 Amended pleadings.
1081.203 Scheduling conference.
1081.204 Consolidation and severance of actions.
1081.205 Non-dispositive motions.
1081.206 Availability of documents for inspection and copying.
1081.207 Production of witness statements.
1081.208 Subpoenas.
1081.209 Deposition of witness unavailable for hearing.
1081.210 Expert discovery.
1081.211 Interlocutory review.
1081.212 Dispositive motions.
1081.213 Partial summary disposition.
1081.214 Prehearing conferences.
1081.215 Prehearing submissions.
1081.216 Amicus participation.
Subpart C--Hearings
1081.300 Public hearings.
1081.301 Failure to appear.
1081.302 Conduct of hearings.
1081.303 Evidence.
1081.304 Record of the hearing.
1081.305 Post-hearing filings.
1081.306 Record in proceedings before hearing officer; retention of 
documents; copies.
Subpart D--Decision and Appeals
1081.400 Recommended decision of the hearing officer.
1081.401 Transmission of documents to Director; record index; 
certification.
1081.402 Notice of appeal; review by the Director.
1081.403 Briefs filed with the Director.
1081.404 Oral argument before the Director.
1081.405 Decision of the Director.
1081.406 Reconsideration.
1081.407 Effective date; stays pending judicial review.
Subpart E--Temporary Cease-and-Desist Proceedings
1081.500 Scope.
1081.501 Basis for issuance, form, and service.
1081.502 Judicial review, duration.

    Authority: 12 U.S.C. 5512(b)(1), 5563(e).

Subpart A--General Rules


Sec.  1081.100  Scope of the rules of practice.

    Subparts A, B, C, and D of this part prescribe rules of practice 
and procedure applicable to adjudication proceedings authorized by 
section 1053 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act of 2010 (Dodd-Frank Act) to ensure or enforce compliance 
with the provisions of title X of the Dodd-Frank Act, rules prescribed 
by the Bureau under title X of the Dodd-Frank Act, and any other 
Federal law or regulation that the Bureau is authorized to enforce. 
Except as otherwise provided in this part, the rules of practice 
contained in subparts A, B, C, and D of this part do not govern the 
conduct of Bureau investigations, investigational hearings or other 
proceedings that do not arise from proceedings after a notice of 
charges or a stipulation and consent order.


Sec.  1081.101  Expedition and fairness of proceedings.

    To the extent practicable, consistent with requirements of law, the 
Bureau's policy is to conduct such adjudication proceedings fairly and 
expeditiously. In the conduct of such proceedings, the hearing officer 
and counsel for all parties shall make every effort at each stage of a 
proceeding to avoid delay. With the consent of the parties, the 
Director, at any time, or the hearing officer at any time prior to the 
filing of his or her recommended decision, may shorten any time limit 
prescribed by this part.


Sec.  1081.102  Rules of construction.

    For the purposes of this part:
    (a) Any term in the singular includes the plural, and the plural 
includes the singular, if such use would be appropriate;
    (b) Any use of a masculine, feminine, or neutral gender encompasses 
all three, if such use would be appropriate;
    (c) Unless context requires otherwise, a party's counsel of record, 
if any, may, on behalf of that party, take any action required to be 
taken by the party; and
    (d) To the extent this part uses terms defined by section 1002 of 
the Dodd-Frank Act, such terms shall have the same meaning as set forth 
therein, unless defined differently by Sec.  1081.103.


Sec.  1081.103  Definitions.

    For the purposes of this part, unless explicitly stated to the 
contrary:
    Dodd-Frank Act means the Dodd-Frank Wall Street Reform and Consumer 
Protection Act of 2010, Public Law 111-203 (July 21, 2010).
    Adjudication proceeding means a proceeding conducted pursuant to 
section 1053 of the Dodd-Frank Act and intended to lead to the 
formulation of a final order other than a temporary order to cease and 
desist issued pursuant to section 1053(c) of the Dodd-Frank Act.
    Bureau means the Bureau of Consumer Financial Protection.
    Chief hearing officer means the hearing officer charged with 
assigning hearing officers to specific proceedings, in the event there 
is more than one hearing officer available to the Bureau.
    Counsel means any person representing a party pursuant to Sec.  
1081.107.
    Decisional employee means any employee of the Bureau who has not 
engaged in an investigative or prosecutorial role in a proceeding and 
who may assist the Director or the hearing officer, respectively, in 
preparing orders, recommended decisions, decisions, and other documents 
under this part.
    Director means the Director of the Bureau or a person authorized to 
perform the functions of the Director in accordance with the law.
    Enforcement counsel means any individual who files a notice of 
appearance as counsel on behalf of the Bureau in an adjudication 
proceeding.
    Final order means an order issued by the Bureau with or without the 
consent of the respondent, which has become final, without regard to 
the pendency of any petition for reconsideration or review.
    General Counsel means the General Counsel of the Bureau or any 
Bureau employee to whom the General Counsel has delegated authority to 
act under this part.
    Hearing officer means an administrative law judge or any other 
person duly authorized to preside at a hearing.
    Notice of charges means the pleading that commences an adjudication 
proceeding, as described in Sec.  1081.200, except that it does not 
include a stipulation and consent order under Sec.  1081.200(d).
    Office of Administrative Adjudication means the office of the 
Bureau responsible for conducting adjudication proceedings.
    Office of Enforcement means the office of the Bureau responsible 
for enforcement of Federal consumer financial law.
    Party means the Bureau, any person named as a party in any notice 
of charges issued pursuant to this part, and, to the extent applicable, 
any person who intervenes in the proceeding pursuant to Sec.  
1081.119(a) to seek a protective order.

[[Page 20243]]

    Person means an individual, partnership, company, corporation, 
association (incorporated or unincorporated), trust, estate, 
cooperative organization, or other entity.
    Person employed by the Bureau means Bureau employees, contractors, 
agents, and others acting for or on behalf of the Bureau, or at its 
direction, including consulting experts.
    Respondent means the party named in the notice of charges.
    State means any State, territory, or possession of the United 
States, the District of Columbia, the Commonwealth of Puerto Rico, the 
Commonwealth of the Northern Mariana Islands, Guam, American Samoa, or 
the United States Virgin Islands or any federally recognized Indian 
tribe, as defined by the Secretary of the Interior under section 104(a) 
of the Federally Recognized Indian Tribe List Act of 1994, 25 U.S.C. 
479a-1(a).


Sec.  1081.104  Authority of the hearing officer.

    (a) General Rule. The hearing officer shall have all powers 
necessary to conduct a proceeding in a fair and impartial manner and to 
avoid unnecessary delay. No provision of this part shall be construed 
to limit the powers of the hearing officers provided by the 
Administrative Procedure Act, 5 U.S.C. 556, 557.
    (b) Powers. The powers of the hearing officer include but are not 
limited to the power:
    (1) To administer oaths and affirmations;
    (2) To issue subpoenas, subpoenas duces tecum, and protective 
orders, as authorized by this part, and to quash or modify any such 
subpoenas or orders;
    (3) To take depositions or cause depositions to be taken;
    (4) To receive relevant evidence and to rule upon the admission of 
evidence and offers of proof;
    (5) To regulate the course of a proceeding and the conduct of 
parties and their counsel;
    (6) To reject written submissions that materially fail to comply 
with the requirements of this part, and to deny confidential status to 
documents and testimony without prejudice until a party complies with 
all relevant rules;
    (7) To hold conferences for settlement, simplification of the 
issues, or any other proper purpose and require the attendance at any 
such conference of at least one representative of each party who has 
authority to negotiate concerning the resolution of issues in 
controversy;
    (8) To inform the parties as to the availability of one or more 
alternative means of dispute resolution, and to encourage the use of 
such methods;
    (9) To certify questions to the Director for his or her 
determination in accordance with the rules of this part;
    (10) To consider and rule upon, as justice may require, all 
procedural and other motions appropriate in adjudication proceedings;
    (11) To issue and file recommended decisions;
    (12) To recuse himself or herself by motion made by a party or on 
his or her own motion;
    (13) To issue such sanctions against parties or their counsel as 
may be necessary to deter repetition of sanctionable conduct or 
comparable conduct by others similarly situated, as provided for in 
this part or as otherwise necessary to the appropriate conduct of 
hearings and related proceedings, provided that no sanction shall be 
imposed before providing the sanctioned person an opportunity to show 
cause why no such sanction should issue; and
    (14) To do all other things necessary and appropriate to discharge 
the duties of a presiding officer.


Sec.  1081.105  Assignment, substitution, performance, disqualification 
of hearing officer.

    (a) How assigned. In the event that more than one hearing officer 
is available to the Bureau for the conduct of proceedings under this 
part, the presiding hearing officer shall be designated by the chief 
hearing officer, who shall notify the parties of the hearing officer 
designated.
    (b) Interference. Hearing officers shall not be subject to the 
supervision or direction of, or responsible to, any officer, employee, 
or agent engaged in the performance of investigative or prosecuting 
functions for the Bureau, and all direction by the Bureau to the 
hearing officer concerning any adjudication proceedings shall appear in 
and be made part of the record.
    (c) Disqualification of hearing officers. (1) When a hearing 
officer deems himself or herself disqualified to preside in a 
particular proceeding, he or she shall issue a notice stating that he 
or she is withdrawing from the matter and setting forth the reasons 
therefore.
    (2) Any party who has a reasonable, good faith basis to believe 
that a hearing officer has a personal bias, or is otherwise 
disqualified from hearing a case, may make a motion to the hearing 
officer that the hearing officer withdraw. The motion shall be 
accompanied by an affidavit setting forth the facts alleged to 
constitute grounds for disqualification. Such motion shall be filed at 
the earliest practicable time after the party learns, or could 
reasonably have learned, of the alleged grounds for disqualification. 
If the hearing officer does not disqualify himself or herself within 
ten days, he or she shall certify the motion to the Director pursuant 
to Sec.  1081.211, together with any statement he or she may wish to 
have considered by the Director. The Director shall promptly determine 
the validity of the grounds alleged, either directly or on the report 
of another hearing officer appointed to conduct a hearing for that 
purpose, and shall either direct the reassignment of the matter or 
confirm the hearing officer's continued role in the matter.
    (d) Unavailability of hearing officer. In the event that the 
hearing officer withdraws or is otherwise unable to perform the duties 
of the hearing officer, the chief hearing officer or the Director shall 
designate another hearing officer to serve.


Sec.  1081.106  Deadlines.

    The deadlines for action by the hearing officer established by 
Sec. Sec.  1081.203, 1081.205, 1081.211, 1081.212, and 1081.400, or 
elsewhere in this part, confer no substantive rights on respondents.


Sec.  1081.107  Appearance and practice in adjudication proceedings.

    (a) Appearance before the Bureau or a hearing officer--(1) By 
attorneys. Any member in good standing of the bar of the highest court 
of any State may represent others before the Bureau if such attorney is 
not currently suspended or debarred from practice before the Bureau or 
by a court of the United States or of any State.
    (2) By non-attorneys. So long as such individual is not currently 
suspended or debarred from practice before the Bureau:
    (i) An individual may appear on his or her own behalf;
    (ii) A member of a partnership may represent the partnership;
    (iii) A duly authorized officer of a corporation, trust or 
association may represent the corporation, trust or association; and
    (iv) A duly authorized officer or employee of any government unit, 
agency, or authority may represent that unit, agency, or authority.
    (3) Notice of appearance. Any individual acting as counsel on 
behalf of a party, including the Bureau, shall file a notice of 
appearance at or before the time that the individual submits papers or 
otherwise appears on behalf of a party in the adjudication proceeding. 
The notice of appearance must include a written declaration that the 
individual

[[Page 20244]]

is currently qualified as provided in paragraph (a)(1) or (a)(2) of 
this section and is authorized to represent the particular party, and 
if applicable, must include the attorney's jurisdiction of admission or 
qualification, attorney identification number, and a statement by the 
appearing attorney attesting to his or her good standing within the 
legal profession. By filing a notice of appearance on behalf of a party 
in an adjudication proceeding, the counsel agrees and represents that 
he or she is authorized to accept service on behalf of the represented 
party and that, in the event of withdrawal from representation, he or 
she will, if required by the hearing officer, continue to accept 
service until a new counsel has filed a notice of appearance or until 
the represented party indicates that he or she will proceed on a pro se 
basis. The notice of appearance shall provide the representative's 
email address, telephone number and business address and, if different 
from the representative's addresses, electronic or other address at 
which the represented party may be served.
    (b) Sanctions. Dilatory, obstructionist, egregious, contemptuous or 
contumacious conduct at any phase of any adjudication proceeding may be 
grounds for exclusion or suspension of counsel from the proceeding. An 
order imposing a sanction must describe the sanctioned conduct and 
explain the basis for the sanction.
    (c) Standards of conduct; disbarment. (1) All attorneys practicing 
before the Bureau shall conform to the standards of ethical conduct 
required by the bars of which the attorneys are members.
    (2) If for good cause shown, the Director believes that any 
attorney is not conforming to such standards, or that an attorney or 
counsel to a party has otherwise engaged in conduct warranting 
disciplinary action, the Director may issue an order requiring such 
person to show cause why he should not be suspended or disbarred from 
practice before the Bureau. The alleged offender shall be granted due 
opportunity to be heard in his or her own defense and may be 
represented by counsel. Thereafter, if warranted by the facts, the 
Director may issue against the attorney or counsel an order of 
reprimand, suspension, or disbarment.


Sec.  1081.108  Good faith certification.

    (a) General requirement. Every filing or submission of record 
following the issuance of a notice of charges shall be signed by at 
least one counsel of record in his or her individual name and shall 
state counsel's address, email address, and telephone number. A party 
who acts as his or her own counsel shall sign his or her individual 
name and state his or her address, email address, and telephone number 
on every filing or submission of record. Papers filed by electronic 
transmission may be signed with an ``/s/'' notation, which shall be 
deemed the signature of the party or representative whose name appears 
below the signature line.
    (b) Effect of signature. (1) The signature of counsel or a party 
shall constitute a certification that: the counsel or party has read 
the filing or submission of record; to the best of his or her 
knowledge, information, and belief formed after reasonable inquiry, the 
filing or submission of record is well-grounded in fact and is 
warranted by existing law or a good faith argument for the extension, 
modification, or reversal of existing law; and the filing or submission 
of record is not made for any improper purpose, such as to harass or to 
cause unnecessary delay or needless increase in the cost of litigation.
    (2) If a filing or submission of record is not signed, the hearing 
officer shall strike the filing or submission of record, unless it is 
signed promptly after the omission is called to the attention of the 
filer.
    (c) Effect of making oral motion or argument. The act of making any 
oral motion or oral argument by any counsel or party constitutes a 
certification that to the best of his or her knowledge, information, 
and belief formed after reasonable inquiry, his or her statements are 
well-grounded in fact and are warranted by existing law or a good faith 
argument for the extension, modification, or reversal of existing law, 
and are not made for any improper purpose, such as to harass or to 
cause unnecessary delay or needless increase in the cost of litigation.
    (d) Sanctions. Counsel or a party that fails to abide by the 
requirements of this section may be subject to sanctions pursuant to 
Sec.  1081.104(b)(13).


Sec.  1081.109  Conflict of interest.

    (a) Conflict of interest in representation. No person shall appear 
as counsel for another person in an adjudication proceeding if it 
reasonably appears that such representation may be materially limited 
by that counsel's responsibilities to a third person or by the 
counsel's own interests. The hearing officer may take corrective 
measures at any stage of a proceeding to cure a conflict of interest in 
representation, including the issuance of an order limiting the scope 
of representation or disqualifying an individual from appearing in a 
representative capacity for the duration of the proceeding.
    (b) Certification and waiver. If any person appearing as counsel 
represents two or more parties to an adjudication proceeding or also 
represents a non-party on a matter relevant to an issue in the 
proceeding, counsel must certify in writing at the time of filing the 
notice of appearance required by Sec.  1081.107(a)(3):
    (1) That the counsel has personally and fully discussed the 
possibility of conflicts of interest with each such party and non-
party; and
    (2) That each such party and/or non-party waives any right it might 
otherwise have had to assert any known conflicts of interest or to 
assert any conflicts of interest during the course of the proceeding.


Sec.  1081.110  Ex parte communication.

    (a) Definitions. (1) For purposes of this section, ex parte 
communication means any material oral or written communication relevant 
to the merits of an adjudication proceeding that was neither on the 
record nor on reasonable prior notice to all parties that takes place 
between:
    (i) An interested person not employed by the Bureau (including such 
person's counsel); and
    (ii) The hearing officer handling the proceeding, the Director, or 
a decisional employee.
    (2) A request for status of the proceeding does not constitute an 
ex parte communication.
    (3) Pendency of an adjudication proceeding means the time from when 
the Bureau issues a notice of charges, unless the person responsible 
for the communication has knowledge that a notice of charges will be 
issued, in which case the pendency of an adjudication shall commence at 
the time of his or her acquisition of such knowledge, or from when an 
order by a court of competent jurisdiction remanding a Bureau decision 
and order for further proceedings becomes effective, until the time the 
Director enters his or her final decision and order in the proceeding 
and the time permitted to seek reconsideration of that decision and 
order has elapsed. For purposes of this section, an order of remand by 
a court of competent jurisdiction shall be deemed to become effective 
when the Bureau's right to petition for review or for a writ of 
certiorari has lapsed without a petition having been filed, or when 
such a petition has been denied. If a petition for reconsideration of a 
Bureau decision is filed pursuant to Sec.  1081.406, the matter shall 
be considered to be a

[[Page 20245]]

pending adjudication proceeding until the time the Bureau enters an 
order disposing of the petition.
    (b) Prohibited ex parte communications. During the pendency of an 
adjudication proceeding, except to the extent required for the 
disposition of ex parte matters as authorized by law or as otherwise 
authorized by this part:
    (1) No interested person not employed by the Bureau shall make or 
knowingly cause to be made to the Director, or to the hearing officer, 
or to any decisional employee, an ex parte communication; and
    (2) The Director, the hearing officer, or any decisional employee 
shall not make or knowingly cause to be made to any interested person 
not employed by the Bureau any ex parte communication.
    (c) Procedure upon occurrence of ex parte communication. If an ex 
parte communication prohibited by paragraph (b) of this section is 
received by the hearing officer, the Director, or any decisional 
employee, that person shall cause all such written communications (or, 
if the communication is oral, a memorandum stating the substance of the 
communication) to be placed on the record of the proceeding and served 
on all parties. All other parties to the proceeding shall have an 
opportunity, within ten days of receipt of service of the ex parte 
communication, to file responses thereto and to recommend any 
sanctions, in accordance with paragraph (d) of this section, that they 
believe to be appropriate under the circumstances.
    (d) Sanctions--(1) Adverse action on claim. Upon receipt of an ex 
parte communication knowingly made or knowingly caused to be made by a 
party and prohibited by paragraph (b) of this section, the Director or 
hearing officer, as appropriate, may, to the extent consistent with the 
interests of justice and the policy of the underlying statutes, require 
the party to show cause why his claim or interest in the proceeding 
should not be dismissed, denied, disregarded, or otherwise adversely 
affected on account of such violation.
    (2) Discipline of persons practicing before the Bureau. The 
Director may, to the extent not prohibited by law, censure, suspend, or 
revoke the privilege to practice before the Bureau of any person who 
makes, or solicits the making of, an unauthorized ex parte 
communication.
    (e) Separation of functions. Except to the extent required for the 
disposition of ex parte matters as authorized by law, the hearing 
officer may not consult a person or party on any matter relevant to the 
merits of the adjudication, unless upon notice and opportunity for all 
parties to participate. An employee or agent engaged in the performance 
of investigative or prosecuting functions for the Bureau in a case, 
other than the Director, may not, in that or a factually related case, 
participate or advise in the decision, recommended decision, or agency 
review of the recommended decision, except as witness or counsel in 
public proceedings.


Sec.  1081.111  Filing of papers.

    (a) Filing. The following papers must be filed by parties in an 
adjudication proceeding: the notice of charges, proof of service of the 
notice of charges, notices of appearance, answer, the disclosure 
statement required under Sec.  1081.201(e), motion, brief, request for 
issuance or enforcement of a subpoena, response, opposition, reply, 
notice of appeal, or petition for reconsideration. The hearing officer 
shall file all written orders, rulings, notices, or requests. Any 
papers required to be filed shall be filed with the Office of 
Administrative Adjudication, except as otherwise provided in this 
section.
    (b) Manner of filing. Unless otherwise specified by the Director or 
the hearing officer, filing may be accomplished by:
    (1) Electronic transmission in accordance with guidance issued by 
the Office of Administrative Adjudication; or
    (2) Any of the following methods if respondent demonstrates, in 
accordance with guidance issued by the Office of Administrative 
Adjudication, that electronic filing is not practicable:
    (i) Personal delivery;
    (ii) Delivery to a reliable commercial courier service or overnight 
delivery service; or
    (iii) Mailing the papers through the U.S. Postal Service by First 
Class Mail, Registered Mail, Certified Mail or Express Mail.
    (c) Papers filed in an adjudication proceeding are presumed to be 
public. Unless otherwise ordered by the Bureau or the hearing officer, 
all papers filed in connection with an adjudication proceeding are 
presumed to be open to the public. The Bureau may provide public access 
to and publish any papers filed in an adjudication proceeding except if 
there is a pending motion for a protective order filed pursuant to 
Sec.  1081.119, or if there is an order from the Director, hearing 
officer, or a Federal court authorizing the confidential treatment of 
the papers filed.


Sec.  1081.112  Formal requirements as to papers filed.

    (a) Form. All papers filed by parties must:
    (1) Set forth the name, address, telephone number, and email 
address of the counsel or party making the filing;
    (2) Be double-spaced (except for single-spaced footnotes and 
single-spaced indented quotations) and printed or typewritten on 8\1/2\ 
x 11 inch paper in 12-point or larger font;
    (3) Include at the head of the paper, or on a title page, a caption 
setting forth the title of the case, the docket number of the 
proceeding, and a brief descriptive title indicating the purpose of the 
paper;
    (4) Be paginated with margins at least one inch wide; and
    (5) If filed by other than electronic means, be stapled, clipped or 
otherwise fastened in a manner that lies flat when opened.
    (b) Signature. All papers must be dated and signed as provided in 
Sec.  1081.108.
    (c) Number of copies. Unless otherwise specified by the Director or 
the hearing officer, one copy of all documents and papers shall be 
filed if filing is by electronic transmission. If filing is 
accomplished by any other means, an original and one copy of all 
documents and papers shall be filed, except that only one copy of 
transcripts of testimony and exhibits must be filed.
    (d) Authority to reject document for filing. The Office of 
Administrative Adjudication or the hearing officer may reject a 
document for filing that materially fails to comply with these rules.
    (e) Sensitive personal information. Sensitive personal information 
means an individual's Social Security number, taxpayer identification 
number, financial account number, credit card or debit card number, 
driver's license number, State-issued identification number, passport 
number, date of birth (other than year), and any sensitive health 
information identifiable by individual, such as an individual's medical 
records. Sensitive personal information shall not be included in, and 
must be redacted or omitted from, filings unless the person filing the 
paper determines that such information is relevant or otherwise 
necessary for the conduct of the proceeding. If the person filing a 
paper determines the sensitive personal information contained in the 
paper is relevant or necessary to the proceeding, the person shall file 
the paper in accordance with paragraph (f) of this section, including 
filing an expurgated copy of the paper with the sensitive personal 
information redacted.
    (f) Confidential treatment of information in certain filings. A 
party seeking confidential treatment of information contained in a 
filing must

[[Page 20246]]

contemporaneously file either a motion requesting such treatment in 
accordance with Sec.  1081.119 or a copy of the order from the 
Director, hearing officer, or Federal court authorizing such 
confidential treatment. The filing must comply with any applicable 
order of the Director or hearing officer and must be accompanied by:
    (1) A complete, sealed copy of the documents containing the 
materials as to which confidential treatment is sought, with the 
allegedly confidential material clearly marked as such, and with the 
first page of the document labeled ``Under Seal.'' If the movant seeks 
or has obtained a protective order against disclosure to other parties 
as well as the public, copies of the documents shall not be served on 
other parties; and
    (2) An expurgated copy of the materials as to which confidential 
treatment is sought, with the allegedly confidential materials 
redacted. The redacted version shall indicate any omissions with 
brackets or ellipses, and its pagination and depiction of text on each 
page shall be identical to that of the sealed version.
    (g) Certificate of service. Any papers filed in an adjudication 
proceeding shall contain proof of service on all other parties or their 
counsel in the form of a statement of the date and manner of service 
and of the names of the persons served, certified by the person who 
made service. The certificate of service must be affixed to the papers 
filed and signed in accordance with Sec.  1081.108.


Sec.  1081.113  Service of papers.

    (a) When required. In every adjudication proceeding, each paper 
required to be filed by Sec.  1081.111 shall be served upon each party 
in the proceeding in accordance with the provisions of this section; 
provided, however, that absent an order to the contrary, no service 
shall be required for motions which are to be heard ex parte.
    (b) Upon a person represented by counsel. Whenever service is 
required to be made upon a person represented by counsel who has filed 
a notice of appearance pursuant to Sec.  1081.107(a)(3), service shall 
be made pursuant to paragraph (c) of this section upon counsel, unless 
service upon the person represented is ordered by the Director or the 
hearing officer, as appropriate.
    (c) Method of service. Except as provided in paragraph (d) of this 
section or as otherwise ordered by the hearing officer or the Director, 
service shall be made by delivering a copy of the filing by one of the 
following methods:
    (1) Transmitting the papers by electronic transmission where the 
persons so serving each other have consented to service by specified 
electronic transmission and provided the Bureau and the parties with 
notice of the means for service by electronic transmission (e.g., email 
address or facsimile number);
    (2) Handing a copy to the person required to be served; or leaving 
a copy at the person's office with a clerk or other person in charge 
thereof, or, if there is no one in charge, leaving it in a conspicuous 
place therein; or, if the office is closed or the person to be served 
has no office, leaving it at the person's dwelling or usual place of 
abode with some person of suitable age and discretion then residing 
therein;
    (3) Mailing the papers through the U.S. Postal Service by First 
Cass Mail, Registered Mail, Certified Mail or Express Mail delivery 
addressed to the person; or
    (4) Sending the papers through a third-party commercial courier 
service or express delivery service.
    (d) Service of certain papers by the Bureau. Service of the notice 
of charges, recommended decisions and final orders of the Bureau shall 
be effected as follows:
    (1) Service of a notice of charges--(i) To individuals. Notice of a 
proceeding shall be made to an individual by delivering a copy of the 
notice of charges to the individual or to an agent authorized by 
appointment or by law to receive such notice. Delivery, for purposes of 
this paragraph, means handing a copy of the notice to the individual; 
or leaving a copy at the individual's office with a clerk or other 
person in charge thereof; or leaving a copy at the individual's 
dwelling house or usual place of abode with some person of suitable age 
and discretion then residing therein; or sending a copy of the notice 
addressed to the individual through the U.S. Postal Service by 
Registered Mail, Certified Mail or Express Mail delivery, or by third-
party commercial carrier, for overnight delivery and obtaining a 
confirmation of receipt.
    (ii) To corporations or entities. Notice of a proceeding shall be 
made to a person other than a natural person by delivering a copy of 
the notice of charges to an officer, managing or general agent, or any 
other agent authorized by appointment or law to receive such notice, by 
any method specified in paragraph (d)(1)(i) of this section.
    (iii) Upon persons registered with the Bureau. In addition to any 
other method of service specified in paragraph (d)(1)(i) or (ii) of 
this section, notice may be made to a person currently registered with 
the Bureau by sending a copy of the notice of charges addressed to the 
most recent business address shown on the person's registration form by 
U.S. Postal Service certified, registered or Express Mail and obtaining 
a confirmation of receipt or attempted delivery.
    (iv) Upon persons in a foreign country. Notice of a proceeding to a 
person in a foreign country may be made by any method specified in 
paragraph (d)(1) of this section, or by any other method reasonably 
calculated to give notice, provided that the method of service used is 
not prohibited by the law of the foreign country.
    (v) Record of service. The Bureau shall maintain and file a record 
of service of the notice of charges on parties, identifying the party 
given notice, the method of service, the date of service, the address 
to which service was made, and the person who made service. If service 
is made in person, the certificate of service shall state, if 
available, the name of the individual to whom the notice of charges was 
given. If service is made by U.S. Postal Service Registered Mail, 
Certified Mail or Express Mail, the Bureau shall maintain the 
confirmation of receipt or attempted delivery. If service is made to an 
agent authorized by appointment to receive service, the certificate of 
service shall be accompanied by evidence of the appointment.
    (vi) Waiver of service. In lieu of service as set forth in 
paragraph (d)(1)(i) or (d)(1)(ii) of this section, the party may be 
provided a copy of the notice of charges by First Class Mail or other 
reliable means if a waiver of service is obtained from the party and 
placed in the record.
    (2) Service of recommended decisions and final orders. Recommended 
decisions issued by the hearing officer and final orders issued by the 
Bureau shall be served promptly on each party pursuant to any method of 
service authorized under paragraph (d)(1) of this section. Such 
decisions and orders may also be served by electronic transmission if 
the party to be served has agreed to accept such service in writing, 
signed by the party or its counsel, and has provided the Bureau with 
information concerning the manner of electronic transmission.


Sec.  1081.114  Construction of time limits.

    (a) General rule. In computing any period of time prescribed by 
this part, by order of the Director or a hearing officer, or by any 
applicable statute, the date of the act or event that commences the 
designated period of time is not included. The last day so computed is

[[Page 20247]]

included unless it is a Saturday, Sunday, or Federal holiday as set 
forth in 5 U.S.C. 6103(a). When the last day is a Saturday, Sunday, or 
Federal holiday, the period runs until the end of the next day that is 
not a Saturday, Sunday, or Federal holiday. Intermediate Saturdays, 
Sundays, and Federal holidays are included in the computation of time, 
except when the time period within which an act is to be performed is 
ten days or less, not including any additional time allowed for in 
paragraph (c) of this section.
    (b) When papers are deemed to be filed or served. Filing and 
service are deemed to be effective:
    (1) In the case of personal service or same day commercial courier 
delivery, upon actual receipt by person served;
    (2) In the case of overnight commercial delivery service, Express 
Mail delivery, First Class Mail, Registered Mail, or Certified Mail, 
upon deposit in or delivery to an appropriate point of collection; or
    (3) In the case of electronic transmission, upon transmission.
    (c) Calculation of time for service and filing of responsive 
papers. Whenever a time limit is measured by a prescribed period from 
the service of any notice or paper, the applicable time limits are 
calculated as follows:
    (1) If service is made by First Class Mail, Registered Mail, or 
Certified Mail, add three calendar days to the prescribed period;
    (2) If service is made by Express Mail or overnight delivery 
service, add one calendar day to the prescribed period; or
    (3) If service is made by electronic transmission, add one calendar 
day to the prescribed period.


Sec.  1081.115  Change of time limits.

    (a) General rule. Except as otherwise provided by law, the hearing 
officer may, in any proceeding before him or her, for good cause shown, 
extend the time limits prescribed by this part or by any notice or 
order issued in the proceedings. After appeal to the Director pursuant 
to Sec.  1081.402, the Director may grant extensions of the time limits 
for good cause shown. Extensions may be granted on the motion of a 
party after notice and opportunity to respond is afforded all non-
moving parties or on the Director's or the hearing officer's own 
motion, as appropriate.
    (b) Considerations in determining whether to extend time limits or 
grant postponements, adjournments and extensions. In considering all 
motions for extensions of time filed pursuant to paragraph (a) of this 
section, the Director or the hearing officer should adhere to a policy 
of strongly disfavoring granting such motions, except in circumstances 
where the moving party makes a strong showing that the denial of the 
motion would substantially prejudice its case. In determining whether 
to grant any motions, the Director or hearing officer, as appropriate, 
shall consider, in addition to any other relevant factors:
    (1) The length of the proceeding to date;
    (2) The number of postponements, adjournments or extensions already 
granted;
    (3) The stage of the proceedings at the time of the motion;
    (4) The impact of the motion on the hearing officer's ability to 
complete the proceeding in the time specified by Sec.  1081.400(a); and
    (5) Any other matters as justice may require.
    (c) Time limit. Postponements, adjournments, or extensions of time 
for filing papers shall not exceed 21 days unless the Director or the 
hearing officer, as appropriate, states on the record or sets forth in 
a written order the reasons why a longer period of time is necessary.
    (d) No effect on deadline for recommended decision. The granting of 
any extension of time pursuant to this section shall not affect any 
deadlines set pursuant to Sec.  1081.400(a).


Sec.  1081.116  Witness fees and expenses.

    Respondents shall pay to witnesses subpoenaed for testimony or 
depositions on their behalf the same fees for attendance and mileage as 
are paid in the United States district courts in proceedings in which 
the United States is a party, provided that, in the case of a 
deposition subpoena addressed to a party, no witness fees or mileage 
need be paid. Fees for witnesses shall be tendered in advance by any 
respondent requesting the issuance of a subpoena, except that fees and 
mileage need not be tendered in advance where the Bureau is the party 
requesting the subpoena. The Bureau shall pay to witnesses subpoenaed 
for testimony or depositions on behalf of the Office of Enforcement the 
same fees for attendance and mileage as are paid in the United States 
district courts in proceedings in which the United States is a party, 
but the Bureau need not tender such fees in advance.


Sec.  1081.117  Bureau's right to conduct examination, collect 
information.

    Nothing contained in this part limits in any manner the right of 
the Bureau to conduct any examination, inspection, or visitation of any 
person, to conduct or continue any form of investigation authorized by 
law, to collect information in order to monitor the market for risks to 
consumers in the offering or provision of consumer financial products 
or services, or to otherwise gather information in accordance with law.


Sec.  1081.118  Collateral attacks on adjudication proceedings.

    Unless a court of competent jurisdiction, or the Director for good 
cause, so directs, if an interlocutory appeal or collateral attack is 
brought in any court concerning all or any part of an adjudication 
proceeding, the challenged adjudication proceeding shall continue 
without regard to the pendency of that court proceeding. No default or 
other failure to act as directed in the adjudication proceeding within 
the times prescribed in this part shall be excused based on the 
pendency before any court of any interlocutory appeal or collateral 
attack.


Sec.  1081.119  Confidential information; protective orders.

    (a) Rights of third parties. Any party that intends to disclose 
information obtained from a third party that is subject to a claim of 
confidentiality must provide notice to the third party at least ten 
days prior to the proposed disclosure of such information. In response 
to such notice, the third party may consent to the disclosure of such 
information, which may be conditioned on the entry of an appropriate 
protective order, or may intervene in the proceeding for the limited 
purpose of moving for a protective order pursuant to this section. Any 
written filing by a party that contains such confidential information 
must be accompanied by a certification that proper notice was provided. 
The act of making any oral motion or oral argument by any counsel or 
party which contains such confidential information constitutes a 
certification that proper notice was provided. A third party wishing to 
intervene for purposes of protecting its confidential information may 
file a single motion, in conformity with all applicable rules, setting 
forth the basis of both the third party's right to intervene and the 
basis for the protective order, in conformity with paragraph (b).
    (b) Procedure. In any adjudication proceeding, a party, including a 
third party who has intervened pursuant to paragraph (a) of this 
section, may file a motion requesting a protective order to limit from 
disclosure to other parties or to the public documents or testimony 
that contain confidential information. The motion should include a 
general

[[Page 20248]]

summary or extract of the documents or testimony without revealing 
confidential details, and a copy of the proposed protective order. A 
motion for confidential treatment of documents should be filed in 
accordance with Sec.  1081.112(f), and all other applicable rules.
    (c) Basis for issuance. Documents and testimony introduced in a 
public hearing, or filed in connection with an adjudication proceeding, 
are presumed to be public. A motion for a protective order shall be 
granted:
    (1) Upon a finding that public disclosure will likely result in a 
clearly defined, serious injury to the party or third party requesting 
confidential treatment;
    (2) After finding that the material constitutes sensitive personal 
information, as defined in Sec.  1081.112(e);
    (3) If all parties, including third parties to the extent their 
information is at issue, stipulate to the entry of a protective order; 
or
    (4) Where public disclosure is prohibited by law.
    (d) Requests for additional information supporting confidentiality. 
The hearing officer may require a movant under paragraph (b) of this 
section to furnish in writing additional information with respect to 
the grounds for confidentiality. Failure to supply the information so 
requested within five days from the date of receipt by the movant of a 
notice of the information required shall be deemed a waiver of the 
objection to public disclosure of that portion of the documents to 
which the additional information relates, unless the hearing officer 
shall otherwise order for good cause shown at or before the expiration 
of such five-day period.
    (e) Confidentiality of documents pending decision. Pending a 
determination of a motion under this section, the documents as to which 
confidential treatment is sought and any other documents that would 
reveal the confidential information in those documents shall be 
maintained under seal and shall be disclosed only in accordance with 
orders of the hearing officer. Any order issued in connection with a 
motion under this section shall be public unless the order would 
disclose information as to which a protective order has been granted, 
in which case that portion of the order that would reveal the protected 
information shall be nonpublic.


Sec.  1081.120  Settlement.

    (a) Availability. Any respondent in an adjudication proceeding 
instituted under this part, may, at any time, propose in writing an 
offer of settlement.
    (b) Procedure. An offer of settlement shall state that it is made 
pursuant to this section; shall recite or incorporate as a part of the 
offer the provisions of paragraphs (c)(3) and (4) of this section; 
shall be signed by the person making the offer, not by counsel; and 
shall be submitted to enforcement counsel.
    (c) Consideration of offers of settlement. (1) Offers of settlement 
shall be considered when time, the nature of the proceedings, and the 
public interest permit.
    (2) Any settlement offer shall be presented to the Director with a 
recommendation, except that, if the recommendation is unfavorable, the 
offer shall not be presented to the Director unless the person making 
the offer so requests.
    (3) By submitting an offer of settlement, the person making the 
offer waives, subject to acceptance of the offer:
    (i) All hearings pursuant to the statutory provisions under which 
the proceeding has been instituted;
    (ii) The filing of proposed findings of fact and conclusions of 
law;
    (iii) Proceedings before, and a recommended decision by, a hearing 
officer;
    (iv) All post-hearing procedures;
    (v) Judicial review by any court; and
    (vi) Any objection to the jurisdiction of the Bureau under section 
1053 of the Dodd-Frank Act.
    (4) By submitting an offer of settlement the person further waives:
    (i) Such provisions of this part or other requirements of law as 
may be construed to prevent any Bureau employee from participating in 
the preparation of, or advising the Director as to, any order, opinion, 
finding of fact, or conclusion of law to be entered pursuant to the 
offer; and
    (ii) Any right to claim bias or prejudgment by the Director based 
on the consideration of or discussions concerning settlement of all or 
any part of the proceeding.
    (5) If the Director rejects the offer of settlement, the person 
making the offer shall be notified of the Director's action and the 
offer of settlement shall be deemed withdrawn. The rejected offer shall 
not constitute a part of the record in any proceeding against the 
person making the offer, provided, however, that rejection of an offer 
of settlement does not affect the continued validity of waivers 
pursuant to paragraph (c)(4) of this section with respect to any 
discussions concerning the rejected offer of settlement.
    (d) Consent orders. If the Director accepts the offer of 
settlement, all terms and conditions of a settlement entered into under 
this section shall be recorded in a written stipulation signed by all 
settling parties, and a consent order concluding the proceeding. The 
stipulation and consent order shall be filed pursuant to Sec.  
1081.111, and shall recite or incorporate as a part of the stipulation 
the provisions of paragraphs (c)(3) and (4) of this section. The 
Director will then issue a consent order, which shall be a final order 
concluding the proceeding.


Sec.  1081.121  Cooperation with other agencies.

    It is the policy of the Bureau to cooperate with other governmental 
agencies to avoid unnecessary overlap or duplication of regulatory 
functions.

Subpart B--Initiation of Proceedings and Prehearing Rules


Sec.  1081.200  Commencement of proceeding and contents of notice of 
charges.

    (a) Commencement of proceeding. A proceeding governed by subparts 
A, B, C, and D of this part is commenced by filing of a notice of 
charges by the Bureau in accordance with Sec.  1081.111. The notice of 
charges must be served by the Bureau upon the respondent in accordance 
with Sec.  1081.113(d)(1).
    (b) Contents of a notice of charges. The notice of charges must set 
forth:
    (1) The legal authority for the proceeding and for the Bureau's 
jurisdiction over the proceeding;
    (2) A statement of the matters of fact and law showing that the 
Bureau is entitled to relief;
    (3) A proposed order or prayer for an order granting the requested 
relief;
    (4) The time and place of the hearing as required by law or 
regulation;
    (5) The time within which to file an answer as required by law or 
regulation;
    (6) That the answer shall be filed and served in accordance with 
subpart A of this part; and
    (7) The docket number for the adjudication proceeding.
    (c) Publication of notice of charges. Unless otherwise ordered by 
the Bureau, the notice of charges shall be given general circulation by 
release to the public, by publication on the Bureau's website and, 
where directed by the hearing officer or the Director, by publication 
in the Federal Register. The Bureau may publish any notice of charges 
after ten days from the date of service except if there is a pending 
motion for a protective order filed pursuant to Sec.  1081.119.
    (d) Commencement of proceeding through a consent order.

[[Page 20249]]

Notwithstanding paragraph (a) of this section, where the parties agree 
to settlement before the filing of a notice of charges, a proceeding 
may be commenced by filing a stipulation and consent order. The 
stipulation and consent order shall be filed pursuant to Sec.  
1081.111. The stipulation shall contain the information required under 
Sec.  1081.120(d), and the consent order shall contain the information 
required under paragraphs (b)(1) through (b)(2) of this section. The 
proceeding shall be concluded upon issuance of the consent order by the 
Director.
    (e) Voluntary dismissal--(1) Without an order. The Bureau may 
voluntarily dismiss an adjudication proceeding without an order entered 
by a hearing officer by filing either:
    (i) A notice of dismissal before the respondent(s) serves an 
answer; or
    (ii) A stipulation of dismissal signed by all parties who have 
appeared.
    (2) Effect. Unless the notice or stipulation states otherwise, the 
dismissal is without prejudice, and does not operate as an adjudication 
on the merits.


Sec.  1081.201  Answer and disclosure statement and notification of 
financial interest.

    (a) Time to file answer. Within 14 days of service of the notice of 
charges, respondent shall file an answer as designated in the notice of 
charges.
    (b) Content of answer. An answer must specifically respond to each 
paragraph or allegation of fact contained in the notice of charges and 
must admit, deny, or state that the party lacks sufficient information 
to admit or deny each allegation of fact. A statement of lack of 
information has the effect of a denial. Denials must fairly meet the 
substance of each allegation of fact denied; general denials are not 
permitted. When a respondent denies part of an allegation, that part 
must be denied, and the remainder specifically admitted. Any allegation 
of fact in the notice of charges which is not denied in the answer 
shall be deemed admitted for purposes of the proceeding. A respondent 
is not required to respond to the portion of a notice of charges that 
constitutes the prayer for relief or proposed order. The answer must 
set forth affirmative defenses, if any, asserted by the respondent.
    (c) If the allegations of the complaint are admitted. If the 
respondent elects not to contest the allegations of fact set forth in 
the notice of charges, the answer shall consist of a statement that the 
respondent admits all of the material allegations to be true. Such an 
answer shall constitute a waiver of hearings as to the facts alleged in 
the notice of charges, and together with the notice of charges will 
provide a record basis on which the hearing officer shall issue a 
recommended decision containing appropriate findings and conclusions 
and a proposed order disposing of the proceeding. In such an answer, 
the respondent may, however, reserve the right to submit proposed 
findings of fact and conclusions of law under Sec.  1081.305.
    (d) Default. (1) Failure of a respondent to file an answer within 
the time provided shall be deemed to constitute a waiver of the 
respondent's right to appear and contest the allegations of the notice 
of charges and to authorize the hearing officer, without further notice 
to the respondent, to find the facts to be as alleged in the notice of 
charges and to enter a recommended decision containing appropriate 
findings and conclusions. In such cases, respondent shall have no right 
to appeal pursuant to Sec.  1081.402, but must instead proceed pursuant 
to paragraph (d)(2) of this section.
    (2) A motion to set aside a default shall be made within a 
reasonable time, state the reasons for the failure to appear or defend, 
and specify the nature of the proposed defense in the proceeding. In 
order to prevent injustice and on such conditions as may be 
appropriate, the hearing officer, at any time prior to the filing of 
the recommended decision, or the Director, at any time, may for good 
cause shown set aside a default.
    (e) Disclosure statement and notification of financial interest--
(1) Who must file; contents. A respondent, nongovernmental intervenor, 
or nongovernmental amicus must file a disclosure statement and 
notification of financial interest that:
    (i) Identifies any parent corporation, any publicly owned 
corporation owning ten percent or more of its stock, and any publicly 
owned corporation not a party to the proceeding that has a financial 
interest in the outcome of the proceeding and the nature of that 
interest; or
    (ii) States that there are no such corporations.
    (2) Time for filing; supplemental filing. A respondent, 
nongovernmental intervenor, or nongovernmental amicus must:
    (i) File the disclosure statement with its first appearance, 
pleading, motion, response, or other request addressed to the hearing 
officer or the Bureau; and
    (ii) Promptly file a supplemental statement if any required 
information changes.


Sec.  1081.202  Amended pleadings.

    (a) Amendments before the hearing. The notice of charges, answer, 
or any other pleading may be amended or supplemented only with the 
opposing party's written consent or leave of the hearing officer. The 
respondent must answer an amended notice of charges within the time 
remaining for the respondent's answer to the original notice of 
charges, or within ten days after service of the amended notice of 
charges, whichever is later, unless the hearing officer orders 
otherwise for good cause.
    (b) Amendments to conform to the evidence. When issues not raised 
in the notice of charges or answer are tried at the hearing by express 
or implied consent of the parties, they will be treated in all respects 
as if they had been raised in the notice of charges or answer, and no 
formal amendments are required. If evidence is objected to at the 
hearing on the ground that it is not within the issues raised by the 
notice of charges or answer, the hearing officer may admit the evidence 
when admission is likely to assist in adjudicating the merits of the 
action and the objecting party fails to satisfy the hearing officer 
that the admission of such evidence would unfairly prejudice that 
party's action or defense upon the merits. The hearing officer may 
grant a continuance to enable the objecting party to meet such 
evidence.


Sec.  1081.203  Scheduling conference.

    (a) Meeting of the parties before scheduling conference. As early 
as practicable before the scheduling conference described in paragraph 
(b) of this section, counsel for the parties shall meet to discuss the 
nature and basis of their claims and defenses and the possibilities for 
a prompt settlement or resolution of the case. The parties shall also 
discuss and agree, if possible, on the matters set forth in paragraph 
(b) of this section.
    (b) Scheduling conference. Within 20 days of service of the notice 
of charges or such other time as the parties and hearing officer may 
agree, counsel for all parties shall appear before the hearing officer 
in person at a specified time and place or by telephone for the purpose 
of scheduling the course and conduct of the proceeding. This meeting or 
telephone conference is called a scheduling conference. At the 
scheduling conference, counsel for the parties shall be prepared to 
address:
    (1) Determination of the dates and location of the hearing, 
including, in proceedings under section 1053(b) of the Dodd-Frank Act, 
whether the hearing should commence later than 60

[[Page 20250]]

days after service of the notice of charges;
    (2) Simplification and clarification of the issues;
    (3) Amendments to pleadings;
    (4) Settlement of any or all issues;
    (5) Production of documents as set forth in Sec.  1081.206 and of 
witness statements as set forth in Sec.  1081.207, and prehearing 
production of documents in response to subpoenas duces tecum as set 
forth in Sec.  1081.208;
    (6) Whether or not the parties intend to move for summary 
disposition of any or all issues;
    (7) Whether the parties intend to seek the deposition of witnesses 
pursuant to Sec.  1081.209;
    (8) A schedule for the exchange of expert reports and the taking of 
expert depositions, if any; and
    (9) Such other matters as may aid in the orderly disposition of the 
proceeding.
    (c) Transcript. The hearing officer, in his or her discretion, may 
require that a scheduling conference be recorded by a court reporter. A 
transcript of the conference and any materials filed, including orders, 
becomes part of the record of the proceeding. A party may obtain a copy 
of the transcript at his or her expense.
    (d) Scheduling order. At or within five days following the 
conclusion of the scheduling conference, the hearing officer shall 
serve on each party an order setting forth the date and location of the 
hearing and any agreements reached and any procedural determinations 
made.
    (e) Failure to appear; default. Any person who is named in a notice 
of charges as a person against whom findings may be made or sanctions 
imposed and who fails to appear, in person or through counsel, at a 
scheduling conference of which he or she has been duly notified may be 
deemed in default pursuant to Sec.  1081.201(d)(1). A party may make a 
motion to set aside a default pursuant to Sec.  1081.201(d)(2).
    (f) Public access. The scheduling conference shall be public unless 
the hearing officer determines, based on the standard set forth in 
Sec.  1081.119(c), that the conference (or any part thereof) shall be 
closed to the public.


Sec.  1081.204  Consolidation and severance of actions.

    (a) Consolidation. (1) On the motion of any party, or on the 
hearing officer's own motion, the hearing officer may consolidate, for 
some or all purposes, any two or more proceedings, if each such 
proceeding involves or arises out of the same transaction, occurrence 
or series of transactions or occurrences, or involves at least one 
common respondent or a material common question of law or fact, unless 
such consolidation would cause unreasonable delay or injustice.
    (2) In the event of consolidation under paragraph (a)(1) of this 
section, appropriate adjustment to the prehearing schedule may be made 
to avoid unnecessary expense, inconvenience, or delay.
    (b) Severance. The hearing officer may, upon the motion of any 
party, sever the proceeding for separate resolution of the matter as to 
any respondent only if the hearing officer finds that:
    (1) Undue prejudice or injustice to the moving party would result 
from not severing the proceeding; and
    (2) Such undue prejudice or injustice would outweigh the interests 
of judicial economy and expedition in the complete and final resolution 
of the proceeding.


Sec.  1081.205  Non-dispositive motions.

    (a) Scope. This section applies to all motions except motions to 
dismiss and motions for summary disposition. A non-dispositive motion 
filed pursuant to another section of this part shall comply with any 
specific requirements of that section and this section to the extent 
these requirements are not inconsistent.
    (b) In writing. (1) Unless made during a hearing or conference, an 
application or request for an order or ruling must be made by written 
motion.
    (2) All written motions must state with particularity the relief 
sought and must be accompanied by a proposed order.
    (3) No oral argument may be held on written motions except as 
otherwise directed by the hearing officer. Written memoranda, briefs, 
affidavits or other relevant material or documents may be filed in 
support of or in opposition to a motion.
    (c) Oral motions. The Director or the hearing officer, as 
appropriate, may order that an oral motion be submitted in writing.
    (d) Responses and replies. (1) Except as otherwise provided in this 
part, within ten days after service of any written motion, or within 
such other period of time as may be established by the hearing officer 
or the Director, as appropriate, any party may file a written response 
to a motion. The hearing officer shall not rule on any oral or written 
motion before each party has had an opportunity to file a response.
    (2) Reply briefs, if any, may be filed within three days after 
service of the response.
    (3) The failure of a party to oppose a written motion or an oral 
motion made on the record is deemed consent by that party to the entry 
of an order substantially in the form of the order accompanying the 
motion.
    (e) Length limitations. No motion subject to this section (together 
with the brief in support of the motion) or brief in response to the 
motion shall exceed 15 pages in length, exclusive of pages containing 
the table of contents, table of authorities, and any addendum that 
consists solely of copies of applicable cases, pertinent legislative 
provisions or rules, and exhibits. No reply brief shall exceed six 
pages in length, exclusive of pages containing the table of contents, 
table of authorities, and any addendum that consists solely of copies 
of applicable cases, pertinent legislative provisions or rules, and 
exhibits. Motions for leave to file motions and briefs in excess of 
these limitations are disfavored.
    (f) Meet and confer requirements. Each motion filed under this 
section shall be accompanied by a signed statement representing that 
counsel for the moving party has conferred or made a good faith effort 
to confer with opposing counsel in a good faith effort to resolve by 
agreement the issues raised by the motion and has been unable to reach 
such an agreement. If some of the matters in controversy have been 
resolved by agreement, the statement shall specify the matters so 
resolved and the matters remaining unresolved.
    (g) Ruling on non-dispositive motions. Unless otherwise provided by 
a relevant section of this part, a hearing officer shall rule on non-
dispositive motions. Such ruling shall be issued within 14 days after 
the expiration of the time period allowed for the filing of all motion 
papers authorized by this section. The Director, for good cause, may 
extend the time allowed for a ruling.
    (h) Proceedings not stayed. A motion under consideration by the 
Director or the hearing officer shall not stay proceedings before the 
hearing officer unless the Director or the hearing officer, as 
appropriate, so orders.
    (i) Dilatory motions. Frivolous, dilatory, or repetitive motions 
are prohibited. The filing of such motions may form the basis for 
sanctions.


Sec.  1081.206  Availability of documents for inspection and copying.

    For purposes of this section, the term documents shall include any 
book, document, record, report, memorandum, paper, communication, 
tabulation, chart, logs, electronic files,

[[Page 20251]]

or other data or data compilations stored in any medium.
    (a) Documents to be available for inspection and copying. (1) 
Unless otherwise provided by this section, or by order of the hearing 
officer, the Office of Enforcement shall make available for inspection 
and copying by any respondent documents obtained by the Office of 
Enforcement prior to the institution of proceedings, from persons not 
employed by the Bureau, in connection with the investigation leading to 
the institution of proceedings. Such documents shall include:
    (i) Any documents turned over in response to civil investigative 
demands or other written requests to provide documents or to be 
interviewed issued by the Office of Enforcement;
    (ii) All transcripts and transcript exhibits; and
    (iii) Any other documents obtained from persons not employed by the 
Bureau.
    (2) In addition, the Office of Enforcement shall make available for 
inspection and copying by any respondent:
    (i) Each civil investigative demand or other written request to 
provide documents or to be interviewed issued by the Office of 
Enforcement in connection with the investigation leading to the 
institution of proceedings; and
    (ii) Any final examination or inspection reports prepared by any 
other Office of the Bureau if the Office of Enforcement either intends 
to introduce any such report into evidence or to use any such report to 
refresh the recollection of, or impeach, any witness.
    (3) Nothing in paragraph (a) of this section shall limit the right 
of the Office of Enforcement to make available any other document, or 
shall limit the right of a respondent to seek access to or production 
pursuant to subpoena of any other document, or shall limit the 
authority of the hearing officer to order the production of any 
document pursuant to subpoena.
    (4) Nothing in paragraph (a) of this section shall require the 
Office of Enforcement to produce a final examination or inspection 
report prepared by any other Office of the Bureau or any other 
government agency to a respondent who is not the subject of that 
report.
    (b) Documents that may be withheld. (1) The Office of Enforcement 
may withhold a document if:
    (i) The document is privileged;
    (ii) The document is an internal memorandum, note or writing 
prepared by a person employed by the Bureau or another government 
agency, other than an examination or supervision report as specified in 
paragraph (a)(2)(ii) of this section, or would otherwise be subject to 
the work product doctrine and will not be offered in evidence;
    (iii) The document was obtained from a domestic or foreign 
governmental entity and is either not relevant to the resolution of the 
proceeding or was provided on condition that the information not be 
disclosed;
    (iv) The document would disclose the identity of a confidential 
source;
    (v) Applicable law prohibits the disclosure of the document; or
    (vi) The hearing officer grants leave to withhold a document or 
category of documents as not relevant to the subject matter of the 
proceeding or otherwise, for good cause shown.
    (2) Nothing in paragraph (b)(1) of this section authorizes the 
Office of Enforcement in connection with an adjudication proceeding to 
withhold material exculpatory evidence in the possession of the Office 
that would otherwise be required to be produced pursuant to paragraph 
(a) of this section.
    (c) Withheld document list. The hearing officer may require the 
Office of Enforcement to produce a list of documents or categories of 
documents withheld pursuant to paragraphs (b)(1)(i) through (v) of this 
section or to submit to the hearing officer any document withheld, 
except for any documents that are being withheld pursuant to section 
(b)(1)(iii), in which case the Office of Enforcement shall inform the 
other parties of the fact that such documents are being withheld, but 
no further disclosures regarding those documents shall be required. The 
hearing officer may determine whether any withheld document should be 
made available for inspection and copying. When similar documents are 
withheld pursuant to paragraphs (b)(1)(i) through (v) of this section, 
those documents may be identified by category instead of by individual 
document. The hearing officer retains discretion to determine when an 
identification by category is insufficient.
    (d) Timing of inspection and copying. Unless otherwise ordered by 
the hearing officer, the Office of Enforcement shall commence making 
documents available to a respondent for inspection and copying pursuant 
to this section no later than seven days after service of the notice of 
charges.
    (e) Place of inspection and copying. Documents subject to 
inspection and copying pursuant to this section shall be made available 
to the respondent for inspection and copying at the Bureau office where 
they are ordinarily maintained, or at such other place as the parties, 
in writing, may agree. A respondent shall not be given custody of the 
documents or leave to remove the documents from the Bureau's offices 
pursuant to the requirements of this section other than by written 
agreement of the Office of Enforcement. Such agreement shall specify 
the documents subject to the agreement, the date they shall be returned 
and such other terms or conditions as are appropriate to provide for 
the safekeeping of the documents.
    (f) Copying costs and procedures. The respondent may obtain a 
photocopy of any documents made available for inspection or, at the 
discretion of the Office of Enforcement, electronic copies of such 
documents. The respondent shall be responsible for the cost of 
photocopying. Unless otherwise ordered, charges for copies made by the 
Office of Enforcement at the request of the respondent will be at the 
rate charged pursuant to part 1070. The respondent shall be given 
access to the documents at the Bureau's offices or such other place as 
the parties may agree during normal business hours for copying of 
documents at the respondent's expense.
    (g) Duty to supplement. If the Office of Enforcement acquires 
information that it intends to rely upon at a hearing after making its 
disclosures under paragraph (a)(1) of this section, the Office of 
Enforcement shall supplement its disclosures to include such 
information.
    (h) Failure to make documents available--harmless error. In the 
event that a document required to be made available to a respondent 
pursuant to this section is not made available by the Office of 
Enforcement, no rehearing or redecision of a proceeding already heard 
or decided shall be required unless the respondent establishes that the 
failure to make the document available was not harmless error.
    (i) Disclosure of privileged or protected information or 
communications; scope of waiver; obligations of receiving party. (1) 
The disclosure of privileged or protected information or communications 
by any party during an adjudication proceeding shall not operate as a 
waiver if:
    (i) The disclosure was inadvertent;
    (ii) The holder of the privilege or protection took reasonable 
steps to prevent disclosure; and
    (iii) The holder promptly took reasonable steps to rectify the 
error, including notifying any party that received the information or 
communication of the claim and the basis for it.

[[Page 20252]]

    (2) After being notified, the receiving party must promptly return, 
sequester, or destroy the specified information and any copies it has; 
must not use or disclose the information until the claim is resolved; 
must take reasonable steps to retrieve the information if the party 
disclosed it before being notified; and may promptly present the 
information to the hearing officer under seal for a determination of 
the claim. The producing party must preserve the information until the 
claim is resolved.
    (3) The disclosure of privileged or protected information or 
communications by any party during an adjudication proceeding shall 
waive the privilege or protection, with respect to other parties to the 
proceeding, as to undisclosed information or communications only if:
    (i) The waiver is intentional;
    (ii) The disclosed and undisclosed information or communications 
concern the same subject matter; and
    (iii) They ought in fairness to be considered together.


Sec.  1081.207  Production of witness statements.

    (a) Availability. Any respondent may move that the Office of 
Enforcement produce for inspection and copying any statement of any 
person called or to be called as a witness by the Office of Enforcement 
that pertains, or is expected to pertain, to his or her direct 
testimony and that would be required to be produced pursuant to the 
Jencks Act, 18 U.S.C. 3500, if the adjudication proceeding were a 
criminal proceeding. For purposes of this section, the term 
``statement'' shall have the meaning set forth in 18 U.S.C. 3500(e). 
Such production shall be made at a time and place fixed by the hearing 
officer and shall be made available to any party, provided, however, 
that the production shall be made under conditions intended to preserve 
the items to be inspected or copied.
    (b) Failure to produce--harmless error. In the event that a 
statement required to be made available to a respondent pursuant to 
this section is not made available by the Office of Enforcement, no 
rehearing or redecision of a proceeding already heard or decided shall 
be required unless the respondent establishes that the failure to make 
the statement available was not harmless error.


Sec.  1081.208  Subpoenas.

    (a) Availability. In connection with any hearing ordered by the 
hearing officer, a party may request the issuance of one or more 
subpoenas requiring the attendance and testimony of witnesses at the 
designated time and place of the hearing, or the production of 
documentary or other tangible evidence returnable at any designated 
time or place.
    (b) Procedure. Unless made on the record at a hearing, requests for 
issuance of a subpoena shall be made in writing, and filed and served 
on each party pursuant to subpart A of this part. The request must 
contain a proposed subpoena and a brief statement showing the general 
relevance and reasonableness of the scope of testimony or documents 
sought.
    (c) Signing may be delegated. A hearing officer may authorize 
issuance of a subpoena, and may delegate the manual signing of the 
subpoena to any other person.
    (d) Standards for issuance. The hearing officer shall promptly 
issue any subpoena requested pursuant to this section. However, where 
it appears to the hearing officer that the subpoena sought may be 
unreasonable, oppressive, excessive in scope, or unduly burdensome, he 
or she may, in his or her discretion, as a condition precedent to the 
issuance of the subpoena, require the person seeking the subpoena to 
show further the general relevance and reasonable scope of the 
testimony or other evidence sought. If after consideration of all the 
circumstances, the hearing officer determines that the subpoena or any 
of its terms is unreasonable, oppressive, excessive in scope, or unduly 
burdensome, he or she may refuse to issue the subpoena, or issue it 
only upon such conditions as fairness requires. In making the foregoing 
determination, the hearing officer may inquire of the other 
participants whether they will stipulate to the facts sought to be 
proved.
    (e) Service. Upon issuance by the hearing officer, the party making 
the request shall serve the subpoena on the person named in the 
subpoena and on each party in accordance with Sec.  1081.113(c). 
Subpoenas may be served in any State, territory, possession of the 
United States, or the District of Columbia, on any person or company 
doing business in any State, territory, possession of the United 
States, or the District of Columbia, or as otherwise permitted by law.
    (f) Tender of fees required. When a subpoena compelling the 
attendance of a person at a hearing is issued at the request of anyone 
other than an officer or agency of the United States, service is valid 
only if the subpoena is accompanied by a tender to the subpoenaed 
person of the fees for one day's attendance and mileage specified by 
Sec.  1081.116.
    (g) Production of documentary material. Production of documentary 
material in response to a subpoena shall be made under a sworn 
certificate, in such form as the subpoena designates, by the person to 
whom the subpoena is directed or, if not a natural person, by any 
person having knowledge of the facts and circumstances relating to such 
production, to the effect that all of the documentary material required 
by the subpoena and in the possession, custody, or control of the 
person to whom the subpoena is directed has been produced and made 
available to the custodian.
    (h) Motion to quash or modify--(1) Procedure. Any person to whom a 
subpoena is directed, or who is an owner, creator, or the subject of 
the documents that are to be produced pursuant to a subpoena, or any 
party may, prior to the time specified therein for compliance, but in 
no event more than ten days after the date of service of such subpoena, 
move that the subpoena be quashed or modified. Such motion shall be 
filed and served on all parties pursuant to subpart A of this part. 
Notwithstanding Sec.  1081.205, the party on whose behalf the subpoena 
was issued or enforcement counsel may, within five days of service of 
the motion, file a response to the motion. Reply briefs are not 
permitted unless requested by the hearing officer. Filing a motion to 
modify a subpoena does not stay the movant's obligation to comply with 
those portions of the subpoena that the person has not sought to 
modify.
    (2) Standards governing motion to quash or modify. If compliance 
with the subpoena would be unreasonable, oppressive, or unduly 
burdensome, the hearing officer shall quash or modify the subpoena, or 
may order return of the subpoena only upon specified conditions. These 
conditions may include but are not limited to a requirement that the 
party on whose behalf the subpoena was issued shall make reasonable 
compensation to the person to whom the subpoena was addressed for the 
cost of copying or transporting evidence to the place for return of the 
subpoena.
    (i) Enforcing subpoenas. If a subpoenaed person fails to comply 
with any subpoena issued pursuant to this section or any order of the 
hearing officer which directs compliance with all or any portion of a 
subpoena, the Bureau's General Counsel may, on its own motion or at the 
request of the party on whose behalf the subpoena was issued, apply to 
an appropriate United States district court, in the name of the

[[Page 20253]]

Bureau but on relation of such party, for an order requiring compliance 
with so much of the subpoena as the hearing officer has not quashed or 
modified, unless, in the judgment of the General Counsel, the 
enforcement of such subpoena would be inconsistent with law and the 
policies of title X of the Dodd-Frank Act. Failure to request that the 
Bureau's General Counsel seek enforcement of a subpoena constitutes a 
waiver of any claim of prejudice predicated upon the unavailability of 
the testimony or evidence sought.


Sec.  1081.209  Deposition of witness unavailable for hearing.

    (a) General rules. (1) If a witness will not be available for the 
hearing, a party desiring to preserve that witness's testimony for the 
record may request in accordance with the procedures set forth in this 
section that the hearing officer issue a subpoena, including a subpoena 
duces tecum, requiring the attendance of the witness at a deposition. 
The hearing officer may issue a deposition subpoena under this section 
upon a showing that:
    (i) The witness will be unable to attend or may be prevented from 
attending the hearing because of age, sickness, or infirmity, or will 
otherwise be unavailable;
    (ii) The witness's unavailability was not procured or caused by the 
subpoenaing party;
    (iii) The testimony is reasonably expected to be material; and
    (iv) Taking the deposition will not result in any undue burden to 
any other party and will not cause undue delay of the proceeding.
    (2) In addition to making a showing as required by paragraph (a)(1) 
of this section, the request for a deposition subpoena must contain a 
proposed deposition subpoena and a brief statement showing the general 
relevance and reasonableness of the scope of testimony and documents 
sought, and the time and place for taking the deposition. Any request 
to record the deposition by audio-visual means must be made in the 
request for a deposition subpoena.
    (3) Any requested deposition subpoena that sets forth a valid basis 
for its issuance must be promptly issued, unless the hearing officer on 
his or her own motion requires a written response or requires 
attendance at a conference concerning whether the requested subpoena 
should be issued. However, where it appears to the hearing officer that 
the deposition subpoena sought may be unreasonable, oppressive, 
excessive in scope, or unduly burdensome, he or she may, in his or her 
discretion, as a condition precedent to the issuance of the deposition 
subpoena, require the person seeking the deposition subpoena to show 
further the general relevance and reasonable scope of the testimony or 
other evidence sought. If after consideration of all the circumstances, 
the hearing officer determines that the deposition subpoena or any of 
its terms is unreasonable, oppressive, excessive in scope, or unduly 
burdensome, he or she may refuse to issue the deposition subpoena, or 
issue it only upon such conditions as fairness requires. In making the 
foregoing determination, the hearing officer may inquire of the other 
participants whether they will stipulate to the facts sought to be 
proved.
    (4) Unless the hearing officer orders otherwise, no deposition 
under this section shall be taken on fewer than 14 days' notice to the 
witness and all parties.
    (b) Procedure. Unless made on the record at a hearing, requests for 
issuance of a deposition subpoena shall be made in writing, and filed 
and served on each party pursuant to subpart A of this part.
    (c) Signing may be delegated. A hearing officer may authorize 
issuance of a deposition subpoena, and may delegate the manual signing 
of the deposition subpoena to any other person.
    (d) Service. Upon issuance by the hearing officer, the party making 
the request shall serve the subpoena on the person named in the 
subpoena and on each party in accordance with Sec.  1081.113(c). 
Deposition subpoenas may be served in any State, territory, possession 
of the United States, or the District of Columbia, on any person or 
company doing business in any State, territory, possession of the 
United States, or the District of Columbia, or as otherwise permitted 
by law.
    (e) Tender of fees required. When a subpoena compelling the 
attendance of a person at a deposition is issued at the request of 
anyone other than an officer or agency of the United States, service is 
valid only if the subpoena is accompanied by a tender to the subpoenaed 
person of the fees for one day's attendance and mileage specified by 
Sec.  1081.116.
    (f) Motion to quash or modify--(1) Procedure. Any person to whom a 
deposition subpoena is directed, or who is an owner, creator, or the 
subject of the documents that are to be produced pursuant to a 
deposition subpoena, or any party may, prior to the time specified 
therein for compliance, but in no event more than ten days after the 
date of service of such subpoena, move that the deposition subpoena be 
quashed or modified. Such motion must include a statement of the basis 
for the motion to quash or modify the deposition subpoena, and shall be 
filed and served on all parties pursuant to subpart A of this part. 
Notwithstanding Sec.  1081.205, the party on whose behalf the 
deposition subpoena was issued or enforcement counsel may, within five 
days of service of the motion, file a response to the motion. Reply 
briefs are not permitted unless requested by the hearing officer.
    (2) Standards governing motion to quash or modify. If compliance 
with the deposition subpoena would be unreasonable, oppressive or 
unduly burdensome, or the deposition subpoena does not meet the 
requirements set forth in paragraph (a)(1) of this section, the hearing 
officer shall quash or modify the deposition subpoena, or may order 
return of the deposition subpoena only upon specified conditions. These 
conditions may include but are not limited to a requirement that the 
party on whose behalf the deposition subpoena was issued shall make 
reasonable compensation to the person to whom the deposition subpoena 
was addressed for the cost of copying or transporting evidence to the 
place for return of the deposition subpoena.
    (g) Procedure upon deposition. (1) Depositions shall be taken 
before any person before whom a deposition may be taken pursuant to the 
Federal Rules of Civil Procedure (the ``deposition officer'').
    (2) The witness being deposed may have an attorney present during 
the deposition.
    (3) Each witness testifying pursuant to a deposition subpoena must 
be duly sworn, and each party shall have the right to examine the 
witness. Objections to questions or documents must be in short form, 
stating the grounds for the objection. Objections to questions of 
evidence shall be noted by the deposition officer upon the deposition, 
but a deposition officer other than the hearing officer shall not have 
the power to decide on the competency, materiality, or relevance of 
evidence. Failure to object to questions or documents is not deemed a 
waiver except where the ground for the objection might have been 
avoided if the objection had been timely presented. All questions, 
answers, and objections must be recorded.
    (4) The deposition must be subscribed by the witness, unless the 
parties and the witness, by stipulation, have waived the signing, or 
the witness is ill, cannot be found, or has refused to sign. If the 
deposition is not subscribed by the

[[Page 20254]]

witness, the court reporter taking the deposition shall certify that 
the transcript is a true and complete transcript of the deposition.
    (5) The original deposition transcript and exhibits shall be filed 
with the Office of Administrative Adjudication. The cost of the 
transcript shall be paid by the party requesting the deposition. A copy 
of the deposition shall be available to the deponent and each party for 
purchase at prescribed rates.
    (h) Enforcing subpoenas. Any party may move before the hearing 
officer for an order compelling the witness to answer any questions the 
witness has refused to answer or submit any evidence the witness has 
refused to submit during the deposition. If a subpoenaed person fails 
to comply with any order of the hearing officer which directs 
compliance with all or any portion of a deposition subpoena under this 
section, the Bureau's General Counsel may, on its own motion or at the 
request of the party on whose behalf the subpoena was issued, apply to 
an appropriate United States district court, in the name of the Bureau 
but on relation of such party, for an order requiring compliance with 
so much of the subpoena as the hearing officer has not quashed or 
modified, unless, in the judgment of the General Counsel, the 
enforcement of such subpoena would be inconsistent with law and the 
policies of title X of the Dodd-Frank Act. Failure to request that the 
Bureau seek enforcement of a subpoena constitutes a waiver of any claim 
of prejudice predicated upon the unavailability of the testimony or 
evidence sought.


Sec.  1081.210  Expert discovery.

    (a) At a date set by the hearing officer at the scheduling 
conference, each party shall serve the other with a report prepared by 
each of its expert witnesses. Each party shall serve the other parties 
with a list of any rebuttal expert witnesses and a rebuttal report 
prepared by each such witness not later than 28 days after the deadline 
for service of expert reports, unless another date is set by the 
hearing officer. A rebuttal report shall be limited to rebuttal of 
matters set forth in the expert report for which it is offered in 
rebuttal. If material outside the scope of fair rebuttal is presented, 
a party may file a motion not later than five days after the deadline 
for service of rebuttal reports, seeking appropriate relief with the 
hearing officer, including striking all or part of the report, leave to 
submit a surrebuttal report by the party's own experts, or leave to 
call a surrebuttal witness and to submit a surrebuttal report by that 
witness.
    (b) No party may call an expert witness at the hearing unless he or 
she has been listed and has provided reports as required by this 
section, unless otherwise directed by the hearing officer at a 
scheduling conference. Each side will be limited to calling at the 
hearing five expert witnesses, including any rebuttal or surrebuttal 
expert witnesses. A party may file a motion seeking leave to call 
additional expert witnesses due to extraordinary circumstances.
    (c) Each report shall be signed by the expert and contain a 
complete statement of all opinions to be expressed and the basis and 
reasons therefore; the data, materials, or other information considered 
by the witness in forming the opinions; any exhibits to be used as a 
summary of or support for the opinions; the qualifications of the 
witness, including a list of all publications authored or co-authored 
by the witness within the preceding ten years; the compensation to be 
paid for the study and testimony; and a listing of any other cases in 
which the witness has testified or sought to testify as an expert at 
trial or hearing, or by deposition within the preceding four years. A 
rebuttal or surrebuttal report need not include any information already 
included in the initial report of the witness.
    (d) A party may depose any person who has been identified as an 
expert whose opinions may be presented at trial. Unless otherwise 
ordered by the hearing officer, a deposition of any expert witness 
shall be conducted after the disclosure of a report prepared by the 
witness in accordance with paragraph (a) of this section, and at least 
seven days prior to the deadline for submission of rebuttal expert 
reports. A deposition of an expert witness shall be completed no later 
than 14 days before the hearing unless otherwise ordered by the hearing 
officer. No expert deposition shall exceed eight hours on the record, 
absent agreement of the parties or an order of the hearing officer for 
good cause shown. Expert depositions shall be conducted pursuant to the 
procedures set forth in Sec.  1081.209(g).
    (e) A party may not discover facts known or opinions held by an 
expert who has been retained or specifically employed by another party 
in anticipation of litigation or preparation for the hearing and who is 
not listed as a witness for the hearing. A party may not discover 
drafts of any report required by this section, regardless of the form 
in which the draft is recorded, or any communications between another 
party's attorney and any of that other party's experts, regardless of 
the form of the communications, except to the extent that the 
communications:
    (1) Relate to compensation for the testifying expert's study or 
testimony;
    (2) Identify facts or data that the other party's attorney provided 
and that the testifying expert considered in forming the opinions to be 
expressed; or
    (3) Identify assumptions that the other party's attorney provided 
and that the testifying expert relied on in forming the opinions to be 
expressed.
    (f) The hearing officer shall have the discretion to dispense with 
the requirement of expert discovery in appropriate cases.


Sec.  1081.211  Interlocutory review.

    (a) Availability. The Director may, at any time, direct that any 
matter be submitted to him or her for review. Subject to paragraph (c) 
of this section, the hearing officer may, on his or her own motion or 
on the motion of any party, certify any matter for interlocutory review 
by the Director. This section is the exclusive remedy for review of a 
hearing officer's ruling or order prior to the Director's consideration 
of the entire proceeding.
    (b) Procedure. Any party's motion for certification of a ruling or 
order for interlocutory review shall be filed with the hearing officer 
within five days of service of the ruling or order, shall specify the 
ruling or order or parts thereof for which interlocutory review is 
sought, shall attach any other portions of the record on which the 
moving party relies, and shall otherwise comply with Sec.  1081.205. 
Notwithstanding Sec.  1081.205, any response to such a motion must be 
filed within three days of service of the motion. The hearing officer 
shall issue a ruling on the motion within five days of the deadline for 
filing a response.
    (c) Certification process. Unless the Director directs otherwise, a 
ruling or order may not be submitted to the Director for interlocutory 
review unless the hearing officer, upon the hearing officer's motion or 
upon the motion of a party, certifies the ruling or order in writing. 
The hearing officer shall not certify a ruling or order unless:
    (1) The ruling or order would compel testimony of Bureau officers 
or employees, or those from another governmental agency, or the 
production of documentary evidence in the custody of the Bureau or 
another governmental agency;
    (2) The ruling or order involves a motion for disqualification of 
the hearing officer pursuant to Sec.  1081.105(c)(2);
    (3) The ruling or order suspended or barred an individual from 
appearing

[[Page 20255]]

before the Bureau pursuant to Sec.  1081.107(c); or
    (4) Upon motion by a party, the hearing officer is of the opinion 
that:
    (i) The ruling or order involves a controlling question of law as 
to which there is substantial ground for difference of opinion; and
    (ii) An immediate review of the ruling or order is likely to 
materially advance the completion of the proceeding or subsequent 
review will be an inadequate remedy.
    (d) Interlocutory review. A party whose motion for certification 
has been denied by the hearing officer may petition the Director for 
interlocutory review.
    (e) Director review. The Director shall determine whether or not to 
review a ruling or order certified under this section or the subject of 
a petition for interlocutory review. Interlocutory review is 
disfavored, and the Director will grant a petition to review a hearing 
officer's ruling or order prior to his or her consideration of a 
recommended decision only in extraordinary circumstances. The Director 
may decline to review a ruling or order certified by a hearing officer 
pursuant to paragraph (c) of this section or the petition of a party 
who has been denied certification if he or she determines that 
interlocutory review is not warranted or appropriate under the 
circumstances, in which case he or she may summarily deny the petition. 
If the Director determines to grant the review, he or she will review 
the matter and issue his or her ruling and order in an expeditious 
fashion, consistent with the Bureau's other responsibilities.
    (f) Proceedings not stayed. The filing of a motion requesting that 
the hearing officer certify any of his or her prior rulings or orders 
for interlocutory review or a petition for interlocutory review filed 
with the Director, and the grant of any such review, shall not stay 
proceedings before the hearing officer unless he or she, or the 
Director, shall so order. The Director will not consider a motion for a 
stay unless the motion shall have first been made to the hearing 
officer.


Sec.  1081.212  Dispositive motions.

    (a) Dispositive motions. This section governs the filing of motions 
to dismiss and motions for summary disposition. The filing of any such 
motion does not obviate a party's obligation to file an answer or take 
any other action required by this part or by an order of the hearing 
officer, unless expressly so provided by the hearing officer.
    (b) Motions to dismiss. A respondent may file a motion to dismiss 
asserting that, even assuming the truth of the facts alleged in the 
notice of charges, it is entitled to dismissal as a matter of law.
    (c) Motion for summary disposition. A party may make a motion for 
summary disposition asserting that the undisputed pleaded facts, 
admissions, affidavits, stipulations, documentary evidence, matters as 
to which official notice may be taken, and any other evidentiary 
materials properly submitted in connection with a motion for summary 
disposition show that:
    (1) There is no genuine issue as to any material fact; and
    (2) The moving party is entitled to a decision in its favor as a 
matter of law.
    (d) Filing of motions for summary disposition and responses. (1) 
After a respondent's answer has been filed and documents have been made 
available to the respondent for inspection and copying pursuant to 
Sec.  1081.206, any party may move for summary disposition in its favor 
of all or any part of the proceeding.
    (2) A motion for summary disposition must be accompanied by a 
statement of the material facts as to which the moving party contends 
there is no genuine issue. Such motion must be supported by documentary 
evidence, which may take the form of admissions in pleadings, 
stipulations, depositions, investigatory depositions, transcripts, 
affidavits and any other evidentiary materials that the moving party 
contends support his or her position. The motion must also be 
accompanied by a brief containing the points and authorities in support 
of the contention of the moving party. Any party opposing a motion for 
summary disposition must file a statement setting forth those material 
facts as to which he or she contends a genuine dispute exists. Such 
opposition must be supported by evidence of the same type as may be 
submitted in support of a motion for summary disposition and a brief 
containing the points and authorities in support of the contention that 
summary disposition would be inappropriate.
    (3) Any affidavit or declaration submitted in support of or in 
opposition to a motion for summary disposition shall set forth such 
facts as would be admissible in evidence, shall show affirmatively that 
the affiant is competent to testify to the matters stated therein, and 
must be signed under oath and penalty of perjury.
    (e) Page limitations for dispositive motions. A motion to dismiss 
or for summary disposition, together with any brief in support of the 
motion (exclusive of any declarations, affidavits, or attachments) 
shall not exceed 35 pages in length. Motions for extensions of this 
length limitation are disfavored.
    (f) Opposition and reply response time and page limitation. Any 
party, within 20 days after service of a dispositive motion, or within 
such time period as allowed by the hearing officer, may file a response 
to such motion. The length limitations set forth in paragraph (e) of 
this section shall also apply to such responses. Any reply brief filed 
in response to an opposition to a dispositive motion shall be filed 
within five days after service of the opposition. Reply briefs shall 
not exceed ten pages.
    (g) Oral argument. At the request of any party or on his or her own 
motion, the hearing officer may hear oral argument on a dispositive 
motion.
    (h) Decision on motion. Within 30 days following the expiration of 
the time for filing all responses and replies to any dispositive 
motion, the hearing officer shall determine whether the motion shall be 
granted. If the hearing officer determines that dismissal or summary 
disposition is warranted, he or she shall issue a recommended decision 
granting the motion. If the hearing officer finds that no party is 
entitled to dismissal or summary disposition, he or she shall make a 
ruling denying the motion. If it appears that a party, for good cause 
shown, cannot present by affidavit, prior to hearing, facts essential 
to justify opposition to the motion, the hearing officer shall deny or 
defer the motion.


Sec.  1081.213  Partial summary disposition.

    If on a motion for summary disposition under Sec.  1081.212 a 
decision is not rendered upon the whole case or for all the relief 
asked and a hearing is necessary, the hearing officer shall issue an 
order specifying the facts that appear without substantial controversy 
and directing further proceedings in the action. The facts so specified 
shall be deemed established.


Sec.  1081.214  Prehearing conferences.

    (a) Prehearing conferences. The hearing officer may, in addition to 
the scheduling conference, on his or her own motion or at the request 
of any party, direct counsel for the parties to meet with him or her 
(in person or by telephone) at a prehearing conference for further 
discussion of the issues outlined in Sec.  1081.203, or for discussion 
of any additional matters that in the view of the hearing officer will 
aid in an orderly disposition of the proceeding, including but not 
limited to:
    (1) Identification of potential witnesses and limitation on the 
number of witnesses;

[[Page 20256]]

    (2) The exchange of any prehearing materials including witness 
lists, statements of issues, exhibits, and any other materials;
    (3) Stipulations, admissions of fact, and the contents, 
authenticity, and admissibility into evidence of documents;
    (4) Matters of which official notice may be taken; and
    (5) Whether the parties intend to introduce prior sworn statements 
of witnesses as set forth in Sec.  1081.303(h).
    (b) Transcript. The hearing officer, in his or her discretion, may 
require that a prehearing conference be recorded by a court reporter. A 
transcript of the conference and any materials filed, including orders, 
becomes part of the record of the proceeding. A party may obtain a copy 
of the transcript at his or her expense.
    (c) Public access. Any prehearing conferences shall be public 
unless the hearing officer determines, based on the standard set forth 
in Sec.  1081.119(c), that the conference (or any part thereof) shall 
be closed to the public.


Sec.  1081.215  Prehearing submissions.

    (a) General rule. Within the time set by the hearing officer, but 
in no case later than ten days before the start of the hearing, each 
party shall serve on every other party:
    (1) A prehearing statement, which shall include an outline or 
narrative summary of its case or defense, and the legal theories upon 
which it will rely;
    (2) A final list of witnesses to be called to testify at the 
hearing, including the name and address of each witness and a short 
summary of the expected testimony of each witness;
    (3) Any prior sworn statements that a party intends to admit into 
evidence pursuant to Sec.  1081.303(h);
    (4) A list of the exhibits to be introduced at the hearing along 
with a copy of each exhibit; and
    (5) Any stipulations of fact or liability.
    (b) Expert witnesses. Each party who intends to call an expert 
witness shall also serve, in addition to the information required by 
paragraph (a)(2) of this section, a statement of the expert's 
qualifications, a listing of other proceedings in which the expert has 
given or sought to give expert testimony at trial or hearing or by 
deposition within the preceding four years, and a list of publications 
authored or co-authored by the expert within the preceding ten years, 
to the extent such information has not already been provided pursuant 
to Sec.  1081.210.
    (c) Effect of failure to comply. No witness may testify and no 
exhibits may be introduced at the hearing if such witness or exhibit is 
not listed in the prehearing submissions pursuant to paragraph (a) of 
this section, except for good cause shown.


Sec.  1081.216  Amicus participation.

    (a) Availability. An amicus brief may be filed only if:
    (1) A motion for leave to file the brief has been granted;
    (2) The brief is accompanied by written consent of all parties;
    (3) The brief is filed at the request of the Director or the 
hearing officer, as appropriate; or
    (4) The brief is presented by the United States or an officer or 
agency thereof, or by a State or a political subdivision thereof.
    (b) Procedure. An amicus brief may be filed conditionally with the 
motion for leave. The motion for leave shall identify the interest of 
the movant and shall state the reasons why a brief of an amicus curiae 
is desirable. Except as all parties otherwise consent, any amicus 
curiae shall file its brief within the time allowed the party whose 
position the amicus will support, unless the Director or hearing 
officer, as appropriate, for good cause shown, grants leave for a later 
filing. In the event that a later filing is allowed, the order granting 
leave to file shall specify when an opposing party may reply to the 
brief.
    (c) Motions. A motion for leave to file an amicus brief shall be 
subject to Sec.  1081.205.
    (d) Formal requirements as to amicus briefs. Amicus briefs shall be 
filed pursuant to Sec.  1081.111 and shall comply with the requirements 
of Sec.  1081.112 and shall be subject to the length limitation set 
forth in Sec.  1081.212(e).
    (e) Oral argument. An amicus curiae may move to present oral 
argument at any hearing before the hearing officer, but such motions 
will be granted only for extraordinary reasons.

Subpart C--Hearings


Sec.  1081.300  Public hearings.

    All hearings in adjudication proceedings shall be public unless a 
confidentiality order is entered by the hearing officer pursuant to 
Sec.  1081.119 or unless otherwise ordered by the Director on the 
grounds that holding an open hearing would be contrary to the public 
interest.


Sec.  1081.301  Failure to appear.

    Failure of a respondent to appear in person or by a duly authorized 
counsel at the hearing constitutes a waiver of respondent's right to a 
hearing and may be deemed an admission of the facts as alleged and 
consent to the relief sought in the notice of charges. Without further 
proceedings or notice to the respondent, the hearing officer shall file 
a recommended decision containing findings of fact and addressing the 
relief sought in the notice of charges.


Sec.  1081.302  Conduct of hearings.

    All hearings shall be conducted in a fair, impartial, expeditious, 
and orderly manner. Enforcement counsel shall present its case-in-chief 
first, unless otherwise ordered by the hearing officer, or unless 
otherwise expressly specified by law or regulation. Enforcement counsel 
shall be the first party to present an opening statement and a closing 
statement, and may make a rebuttal statement after the respondent's 
closing statement. If there are multiple respondents, respondents may 
agree among themselves as to their order of presentation of their 
cases, but if they do not agree, the hearing officer shall fix the 
order.


Sec.  1081.303  Evidence.

    (a) Burden of proof. Enforcement counsel shall have the burden of 
proof of the ultimate issue(s) of the Bureau's claims at the hearing.
    (b) Admissibility. (1) Except as is otherwise set forth in this 
section, relevant, material, and reliable evidence that is not unduly 
repetitive is admissible to the fullest extent authorized by the 
Administrative Procedure Act and other applicable law. Irrelevant, 
immaterial, and unreliable evidence shall be excluded.
    (2) Evidence, even if relevant, may be excluded if its probative 
value is substantially outweighed by the danger of unfair prejudice or 
confusion of the issues; if the evidence would be misleading; or based 
on considerations of undue delay, waste of time, or needless 
presentation of cumulative evidence.
    (3) Evidence that constitutes hearsay may be admitted if it is 
relevant, material, and bears satisfactory indicia of reliability so 
that its use is fair. Hearsay is a statement, other than one made by 
the declarant while testifying at the hearing, offered in evidence to 
prove the truth of the matter asserted. If otherwise meeting the 
standards for admissibility described in this section, transcripts of 
depositions, investigational hearings, prior testimony in Bureau or 
other proceedings, and any other form of hearsay shall be admissible 
and shall not be excluded solely on the ground that they are or contain 
hearsay.
    (4) Evidence that would be admissible under the Federal Rules of 
Evidence is admissible in a proceeding conducted

[[Page 20257]]

pursuant to this part. Evidence that would be inadmissible under the 
Federal Rules of Evidence may not be deemed or ruled to be inadmissible 
in a proceeding conducted pursuant to this part solely on that basis.
    (c) Official notice. Official notice may be taken of any material 
fact that is not subject to reasonable dispute in that it is either 
generally known or capable of accurate and ready determination by 
resort to sources whose accuracy cannot reasonably be questioned. If 
official notice is requested or is taken of a material fact not 
appearing in the evidence in the record, the parties, upon timely 
request, shall be afforded an opportunity to disprove such noticed 
fact.
    (d) Documents. (1) A duplicate copy of a document is admissible to 
the same extent as the original, unless a genuine issue is raised as to 
whether the copy is in some material respect not a true and legible 
copy of the original.
    (2) Subject to the requirements of paragraph (b) of this section, 
any document, including a report of examination, supervisory activity, 
inspection or visitation, prepared by the Bureau, a prudential 
regulator, as that term is defined in section 1002(24) of the Dodd-
Frank Act, or by a State regulatory agency, is presumptively admissible 
either with or without a sponsoring witness.
    (3) Witnesses may use existing or newly created charts, exhibits, 
calendars, calculations, outlines or other graphic material to 
summarize, illustrate, or simplify the presentation of testimony. Such 
materials may, subject to the hearing officer's discretion, be used 
with or without being admitted into evidence.
    (4) As respondents are in the best position to determine the nature 
of documents generated by such respondents and which come from their 
own files, the burden of proof is on the respondent to introduce 
evidence to rebut a presumption that such documents are authentic and 
kept in the regular course of business.
    (e) Objections. (1) Objections to the admissibility of evidence 
must be timely made and rulings on all objections must appear on the 
record.
    (2) Whenever evidence is excluded from the record, the party 
offering such evidence may make an offer of proof, which shall be 
included in the record. Rejected exhibits, adequately marked for 
identification, shall be retained pursuant to Sec.  1081.306(b) so as 
to be available for consideration by any reviewing authority.
    (3) Failure to object to admission of evidence or to any ruling 
constitutes a waiver of the objection.
    (f) Stipulations. (1) The parties may, at any stage of the 
proceeding, stipulate as to any relevant matters of fact or the 
authentication of any relevant documents. Such stipulations must be 
received in evidence at a hearing and are binding on the parties with 
respect to the matters therein stipulated.
    (2) Unless the hearing officer directs otherwise, all stipulations 
of fact and law previously agreed upon by the parties, and all 
documents, the admissibility of which have been previously stipulated, 
will be admitted into evidence upon commencement of the hearing.
    (g) Presentation of evidence. (1) A witness at a hearing for the 
purpose of taking evidence shall testify under oath or affirmation.
    (2) A party is entitled to present its case or defense by sworn 
oral testimony and documentary evidence, to submit rebuttal evidence, 
and to conduct such cross-examination as, in the discretion of the 
hearing officer, may be required for a full and true disclosure of the 
facts.
    (3) An adverse party, or an officer, agent, or employee thereof, 
and any witness who appears to be hostile, unwilling, or evasive, may 
be interrogated by leading questions and may also be contradicted and 
impeached by the party calling him or her.
    (4) The hearing officer shall exercise reasonable control over the 
mode and order of interrogating witnesses and presenting evidence so as 
to:
    (i) Make the interrogation and presentation effective for the 
ascertainment of the truth;
    (ii) Avoid needless consumption of time; and
    (iii) Protect witnesses from harassment or undue embarrassment.
    (5) The hearing officer may permit a witness to appear at a hearing 
via video conference or telephone for good cause shown.
    (h) Introducing prior sworn statements of witnesses into the 
record. At a hearing, any party wishing to introduce a prior, sworn 
statement of a witness, not a party, otherwise admissible in the 
proceeding, may make a motion setting forth the reasons therefore. If 
only part of a statement is offered in evidence, the hearing officer 
may require that all relevant portions of the statement be introduced. 
If all of a statement is offered in evidence, the hearing officer may 
require that portions not relevant to the proceeding be excluded. A 
motion to introduce a prior sworn statement may be granted if:
    (1) The witness is dead;
    (2) The witness is out of the United States, unless it appears that 
the absence of the witness was procured by the party offering the prior 
sworn statement;
    (3) The witness is unable to attend or testify because of age, 
sickness, infirmity, imprisonment or other disability;
    (4) The party offering the prior sworn statement has been unable to 
procure the attendance of the witness by subpoena; or
    (5) In the discretion of the hearing officer, it would be 
desirable, in the interests of justice, to allow the prior sworn 
statement to be used. In making this determination, due regard shall be 
given to the presumption that witnesses will testify orally in an open 
hearing. If the parties have stipulated to accept a prior sworn 
statement in lieu of live testimony, consideration shall also be given 
to the convenience of the parties in avoiding unnecessary expense.


Sec.  1081.304  Record of the hearing.

    (a) Reporting and transcription. Hearings shall be stenographically 
reported and transcribed under the supervision of the hearing officer, 
and the original transcript shall be a part of the record and the sole 
official transcript. The live oral testimony of each witness may be 
video recorded digitally, in which case the video recording and the 
written transcript of the testimony shall be made part of the record. 
Copies of transcripts shall be available from the reporter at 
prescribed rates.
    (b) Corrections. Corrections of the official transcript may be made 
only when they involve errors affecting substance and then only in the 
manner provided in this paragraph. Corrections ordered by the hearing 
officer or agreed to in a written stipulation signed by all counsel and 
parties not represented by counsel, and approved by the hearing 
officer, shall be included in the record, and such stipulations, except 
to the extent they are capricious or without substance, shall be 
approved by the hearing officer. Corrections shall not be ordered by 
the hearing officer except upon notice and opportunity for the hearing 
of objections. Such corrections shall be made by the official reporter 
by furnishing substitute type pages, under the usual certificate of the 
reporter, for insertion in the official record. The original 
uncorrected pages shall be retained in the files of the Bureau.
    (c) Closing of the hearing record. Upon completion of the hearing, 
the hearing officer shall issue an order closing the hearing record 
after giving the parties three days to determine if the

[[Page 20258]]

record is complete or needs to be supplemented. The hearing officer 
shall retain the discretion to permit or order correction of the record 
as provided in paragraph (b) of this section.


Sec.  1081.305  Post-hearing filings.

    (a) Proposed findings and conclusions and supporting briefs. (1) 
Using the same method of service for each party, the hearing officer 
shall serve notice upon each party that the certified transcript, 
together with all hearing exhibits and exhibits introduced but not 
admitted into evidence at the hearing, has been filed promptly after 
that filing. Any party may file with the hearing officer proposed 
findings of fact, proposed conclusions of law, and a proposed order 
within 30 days following service of this notice by the hearing officer 
or within such longer period as may be ordered by the hearing officer.
    (2) Proposed findings and conclusions must be supported by citation 
to any relevant authorities and by page references to any relevant 
portions of the record. A post-hearing brief may be filed in support of 
proposed findings and conclusions, either as part of the same document 
or in a separate document.
    (b) Responsive briefs. Responsive briefs may be filed within 15 
days after the date on which the parties' proposed findings, 
conclusions, and order are due. Responsive briefs must be strictly 
limited to responding to matters, issues, or arguments raised in 
another party's papers. A party who has not filed proposed findings of 
fact and conclusions of law or a post-hearing brief may not file a 
responsive brief. Unless directed by the hearing officer, reply briefs 
are not permitted.
    (c) Order of filing. The hearing officer shall not order the filing 
by any party of any post-hearing brief or responsive brief in advance 
of the other party's filing of its post-hearing brief or responsive 
brief.


Sec.  1081.306  Record in proceedings before hearing officer; retention 
of documents; copies.

    (a) Contents of the record. The record of the proceeding shall 
consist of:
    (1) The notice of charges, the answer, and any amendments thereto;
    (2) Each motion, submission, or other paper filed in the 
proceedings, and any amendments and exceptions to or regarding them;
    (3) Each stipulation, transcript of testimony, and any document or 
other item admitted into evidence;
    (4) Any transcript of a conference or hearing before the hearing 
officer;
    (5) Any amicus briefs filed pursuant to Sec.  1081.216;
    (6) With respect to a request to disqualify a hearing officer or to 
allow the hearing officer's withdrawal under Sec.  1081.105(c), each 
affidavit or transcript of testimony taken and the decision made in 
connection with the request;
    (7) All motions, briefs, and other papers filed on interlocutory 
appeal;
    (8) All proposed findings and conclusions;
    (9) Each written order issued by the hearing officer or Director; 
and
    (10) Any other document or item accepted into the record by the 
hearing officer.
    (b) Retention of documents not admitted. Any document offered into 
evidence but excluded shall not be considered part of the record. The 
Office of Administrative Adjudication shall retain any such document 
until the later of the date upon which an order by the Director ending 
the proceeding becomes final and not appealable, or upon the conclusion 
of any judicial review of the Director's order.
    (c) Substitution of copies. A true copy of a document may be 
substituted for any document in the record or any document retained 
pursuant to paragraph (b) of this section.

Subpart D--Decision and Appeals


Sec.  1081.400  Recommended decision of the hearing officer.

    (a) Time period for filing recommended decision. Subject to 
paragraph (b) of this section, the hearing officer shall file a 
recommended decision no later than 90 days after the deadline for 
filing post-hearing responsive briefs pursuant to Sec.  1081.305(b) and 
in no event later than 300 days after filing of the notice of charges.
    (b) Extension of deadlines. In the event the hearing officer 
presiding over the proceeding determines that it will not be possible 
to issue the recommended decision within the time periods specified in 
paragraph (a) of this section, the hearing officer shall submit a 
written request to the Director for an extension of the time period for 
filing the recommended decision. This request must be filed no later 
than 30 days prior to the expiration of the time for issuance of a 
recommended decision. The request will be served on all parties in the 
proceeding, who may file with the Director briefs in support of or in 
opposition to the request. Any such briefs must be filed within three 
days of service of the hearing officer's request and shall not exceed 
five pages. If the Director determines that additional time is 
necessary or appropriate in the public interest, the Director shall 
issue an order extending the time period for filing the recommended 
decision.
    (c) Content. (1) A recommended decision shall be based on a 
consideration of the whole record relevant to the issues decided, and 
shall be supported by reliable, probative, and substantial evidence. 
The recommended decision shall include a statement of findings of fact 
(with specific page references to principal supporting items of 
evidence in the record) and conclusions of law, as well as the reasons 
or basis therefore, as to all the material issues of fact, law, or 
discretion presented on the record and the appropriate order, sanction, 
relief or denial thereof. The recommended decision shall also state 
that a notice of appeal may be filed within ten days after service of 
the recommended decision and include a statement that, unless a party 
timely files and perfects a notice of appeal of the recommended 
decision, the Director may adopt the recommended decision as the final 
decision and order of the Bureau without further opportunity for 
briefing or argument.
    (2) Consistent with paragraph (a) of this section, when more than 
one claim for relief is presented in an adjudication proceeding, or 
when multiple parties are involved, the hearing officer may direct the 
entry of a recommended decision as to one or more but fewer than all of 
the claims or parties only upon an express determination that there is 
no just reason for delay and upon an express direction for the entry of 
a recommended decision.
    (d) By whom made. The recommended decision shall be made and filed 
by the hearing officer who presided over the hearings, except when he 
or she shall have become unavailable to the Bureau.
    (e) Reopening of proceeding by hearing officer; termination of 
jurisdiction. (1) At any time from the close of the hearing record 
pursuant to Sec.  1081.304(c) until the filing of his or her 
recommended decision, a hearing officer may reopen the proceeding for 
the receipt of further evidence for good cause shown.
    (2) Except for the correction of clerical errors or pursuant to an 
order of remand from the Director, the jurisdiction of the hearing 
officer is terminated upon the filing of his or her recommended 
decision with respect to those issues decided pursuant to paragraph (c) 
of this section.
    (f) Filing, service, and publication. Upon filing by the hearing 
officer of the

[[Page 20259]]

recommended decision, the Office of Administrative Adjudication shall 
promptly transmit the recommended decision to the Director and serve 
the recommended decision upon the parties.


Sec.  1081.401  Transmission of documents to Director; record index; 
certification.

    (a) Filing of index. At the same time the Office of Administrative 
Adjudication transmits the recommended decision to the Director, the 
hearing officer shall furnish to the Director a certified index of the 
entire record of the proceedings. The certified index shall include, at 
a minimum, an entry for each paper, document or motion filed in the 
proceeding, the date of the filing, and the identity of the filer. The 
certified index shall also include an exhibit index containing, at a 
minimum, an entry consisting of exhibit number and title or description 
for each exhibit introduced and admitted into evidence and each exhibit 
introduced but not admitted into evidence.
    (b) Retention of record items by the Office of Administrative 
Adjudication. After the close of the hearing, the Office of 
Administrative Adjudication shall retain originals of any motions, 
exhibits or any other documents filed with, or accepted into evidence 
by, the hearing officer, or any other portions of the record that have 
not already been filed with the Office of Administrative Adjudication.


Sec.  1081.402  Notice of appeal; review by the Director.

    (a) Notice of appeal--(1) Filing. Any party may file exceptions to 
the recommended decision of the hearing officer by filing a notice of 
appeal with the Office of Administrative Adjudication within ten days 
after service of the recommended decision. The notice shall specify the 
party or parties against whom the appeal is taken and shall designate 
the recommended decision or part thereof appealed from. If a timely 
notice of appeal is filed by a party, any other party may thereafter 
file a notice of appeal within five days after service of the first 
notice, or within ten days after service of the recommended decision, 
whichever period expires last.
    (2) Perfecting a notice of appeal. Any party filing a notice of 
appeal must perfect its appeal by filing its opening appeal brief 
within 30 days of service of the recommended decision. Any party may 
respond to the opening appeal brief by filing an answering brief within 
30 days of service of the opening brief. Any party may file a reply to 
an answering brief within seven days of service of the answering brief. 
These briefs must conform to the requirements of Sec.  1081.403.
    (b) Director review other than pursuant to an appeal. In the event 
no party perfects an appeal of the recommended decision, the Director 
shall, within 40 days after the date of service of the recommended 
decision, either issue a final decision and order adopting the 
recommended decision, or order further briefing regarding any portion 
of the recommended decision. The Director's order for further briefing 
shall set forth the scope of review and the issues that will be 
considered and will make provision for the filing of briefs in 
accordance with the timelines set forth in paragraph (a)(2) of this 
section (except that opening briefs shall be due within 30 days of 
service of the order of review) if deemed appropriate by the Director.
    (c) Exhaustion of administrative remedies. Pursuant to 5 U.S.C. 
704, a perfected appeal to the Director of a recommended decision 
pursuant to paragraph (a) of this section is a prerequisite to the 
seeking of judicial review of a final decision and order, or portion of 
the final decision and order, adopting the recommended decision.


Sec.  1081.403  Briefs filed with the Director.

    (a) Contents of briefs. Briefs shall be confined to the particular 
matters at issue. Each exception to the findings or conclusions being 
reviewed shall be stated succinctly. Exceptions shall be supported by 
citation to the relevant portions of the record, including references 
to the specific pages relied upon, and by concise argument including 
citation of such statutes, decisions, and other authorities as may be 
relevant. If the exception relates to the admission or exclusion of 
evidence, the substance of the evidence admitted or excluded shall be 
set forth in the brief, in an appendix thereto, or by citation to the 
record. Reply briefs shall be confined to matters in answering briefs 
of other parties.
    (b) Length limitation. Except with leave of the Director, opening 
and answering briefs shall not exceed 30 pages, and reply briefs shall 
not exceed 15 pages, exclusive of pages containing the table of 
contents, table of authorities, and any addendum that consists solely 
of copies of applicable cases, pertinent legislative provisions or 
rules, and exhibits. Motions to file briefs in excess of these 
limitations are disfavored.


Sec.  1081.404  Oral argument before the Director.

    (a) Availability. The Director will consider appeals, motions, and 
other matters properly before him or her on the basis of the papers 
filed by the parties without oral argument unless the Director 
determines that the presentation of facts and legal arguments in the 
briefs and record and decisional process would be significantly aided 
by oral argument, in which case the Director shall issue an order 
setting the date on which argument shall be held. A party seeking oral 
argument shall so indicate on the first page of its opening or 
answering brief.
    (b) Public arguments; transcription. All oral arguments shall be 
public unless otherwise ordered by the Director. Oral arguments before 
the Director shall be reported stenographically, unless otherwise 
ordered by the Director. Motions to correct the transcript of oral 
argument shall be made according to the same procedure provided in 
Sec.  1081.304(b).


Sec.  1081.405  Decision of the Director.

    (a) Upon appeal from or upon further review of a recommended 
decision, the Director will consider such parts of the record as are 
cited or as may be necessary to resolve the issues presented and, in 
addition, will, to the extent necessary or desirable, exercise all 
powers which he or she could have exercised if he or she had made the 
recommended decision. In proceedings before the Director, the record 
shall consist of all items part of the record below in accordance with 
Sec.  1081.306; any notices of appeal or order directing review; all 
briefs, motions, submissions, and other papers filed on appeal or 
review; and the transcript of any oral argument held. Review by the 
Director of a recommended decision may be limited to the issues 
specified in the notice(s) of appeal or the issues, if any, specified 
in the order directing further briefing. On notice to all parties, 
however, the Director may, at any time prior to issuance of his or her 
decision, raise and determine any other matters that he or she deems 
material, with opportunity for oral or written argument thereon by the 
parties.
    (b) Decisional employees may advise and assist the Director in the 
consideration and disposition of the case.
    (c) In rendering his or her decision, the Director will affirm, 
adopt, reverse, modify, set aside, or remand for further proceedings 
the recommended decision and will include in the decision a statement 
of the reasons or basis for his

[[Page 20260]]

or her actions and the findings of fact upon which the decision is 
predicated.
    (d) At the expiration of the time permitted for the filing of reply 
briefs with the Director, the Office of Administrative Adjudication 
will notify the parties that the case has been submitted for final 
Bureau decision. The Director will issue and the Office of 
Administrative Adjudication will serve the Director's final decision 
and order within 90 days after such notice, unless within that time the 
Director orders that the adjudication proceeding or any aspect thereof 
be remanded to the hearing officer for further proceedings.
    (e) Copies of the final decision and order of the Director shall be 
served upon each party to the proceeding, upon other persons required 
by statute, and, if directed by the Director or required by statute, 
upon any appropriate State or Federal supervisory authority. The final 
decision and order will also be published on the Bureau's website or as 
otherwise deemed appropriate by the Bureau.


Sec.  1081.406  Reconsideration.

    Within 14 days after service of the Director's final decision and 
order, any party may file with the Director a petition for 
reconsideration, briefly and specifically setting forth the relief 
desired and the grounds in support thereof. Any petition filed under 
this section must be confined to new questions raised by the final 
decision or final order and upon which the petitioner had no 
opportunity to argue, in writing or orally, before the Director. No 
response to a petition for reconsideration shall be filed unless 
requested by the Director, who will request such response before 
granting any petition for reconsideration. The filing of a petition for 
reconsideration shall not operate to stay the effective date of the 
final decision or order or to toll the running of any statutory period 
affecting such decision or order unless specifically so ordered by the 
Director.


Sec.  1081.407  Effective date; stays pending judicial review.

    (a) Other than consent orders, which shall become effective at the 
time specified therein, an order to cease and desist or for other 
affirmative action under section 1053(b) of the Dodd-Frank Act becomes 
effective at the expiration of 30 days after the date of service 
pursuant to Sec.  1081.113(d)(2), unless the Director agrees to stay 
the effectiveness of the order pursuant to this section.
    (b) Any party subject to a final decision and order, other than a 
consent order, may apply to the Director for a stay of all or part of 
that order pending judicial review.
    (c) A motion for stay shall state the reasons a stay is warranted 
and the facts relied upon, and shall include supporting affidavits or 
other sworn statements, and a copy of the relevant portions of the 
record. The motion shall address the likelihood of the movant's success 
on appeal, whether the movant will suffer irreparable harm if a stay is 
not granted, the degree of injury to other parties if a stay is 
granted, and why the stay is in the public interest.
    (d) A motion for stay shall be filed within 30 days of service of 
the order on the party. Any party opposing the motion may file a 
response within five days after receipt of the motion. The movant may 
file a reply brief, limited to new matters raised by the response, 
within three days after receipt of the response.
    (e) The commencement of proceedings for judicial review of a final 
decision and order of the Director does not, unless specifically 
ordered by the Director or a reviewing court, operate as a stay of any 
order issued by the Director. The Director may, in his or her 
discretion, and on such terms as he or she finds just, stay the 
effectiveness of all or any part of an order pending a final decision 
on a petition for judicial review of that order.

Subpart E--Temporary Cease-and-Desist Proceedings

    Source: 78 FR 59164, Sept. 26, 2013, unless otherwise noted.


Sec.  1081.500  Scope.

    (a) This subpart prescribes the rules of practice and procedure 
applicable to the issuance of a temporary cease-and-desist order 
authorized by section 1053(c) of the Dodd-Frank Act (12 U.S.C. 
5563(c)).
    (b) The issuance of a temporary cease-and-desist order does not 
stay or otherwise affect the proceedings instituted by the issuance of 
a notice of charges, which are governed by subparts A, B, C, and D of 
this part.


Sec.  1081.501  Basis for issuance, form, and service.

    (a) In general. The Director or his or her designee may issue a 
temporary cease-and-desist order if he or she determines that one or 
more of the alleged violations specified in a notice of charges, or the 
continuation thereof, is likely to cause the respondent to be insolvent 
or otherwise prejudice the interests of consumers before the completion 
of the adjudication proceeding. A temporary cease-and-desist order may 
require the respondent to cease and desist from any violation or 
practice specified in the notice of charges and to take affirmative 
action to prevent or remedy such insolvency or other condition pending 
completion of the proceedings initiated by the issuance of a notice of 
charges.
    (b) Incomplete or inaccurate records. When a notice of charges 
specifies, on the basis of particular facts and circumstances, that the 
books and records of a respondent are so incomplete or inaccurate that 
the Bureau is unable to determine the financial condition of the 
respondent or the details or purpose of any transaction or transactions 
that may have a material effect on the financial condition of the 
respondent, then the Director or his or her designee may issue a 
temporary order requiring:
    (1) The cessation of any activity or practice which gave rise, 
whether in whole or in part, to the incomplete or inaccurate state of 
the books or records; or
    (2) Affirmative action to restore such books or records to a 
complete and accurate state, until the completion of the adjudication 
proceeding.
    (c) Content, scope and form of order. Every temporary cease-and-
desist order accompanying a notice of charges shall describe:
    (1) The basis for its issuance, including the alleged violations 
and the harm that is likely to result without the issuance of an order; 
and
    (2) The act or acts the respondent is to take or refrain from 
taking.
    (d) Effective and enforceable upon service. A temporary cease-and-
desist order is effective and enforceable upon service.
    (e) Service. Service of a temporary cease-and-desist order shall be 
made pursuant to Sec.  1081.113(d).


Sec.  1081.502  Judicial review, duration.

    (a) Availability of judicial review. Judicial review of a temporary 
cease-and-desist order shall be available solely as provided in section 
1053(c)(2) of the Dodd-Frank Act (12 U.S.C. 5563(c)(2)). Any respondent 
seeking judicial review of a temporary cease-and-desist order issued 
under this subpart must, not later than ten calendar days after service 
of the temporary cease-and-desist order, apply to the United States 
district court for the judicial district in which the residence or 
principal office or place of business of the respondent is located, or 
the United States District Court for the District of Columbia, for an 
injunction setting aside, limiting, or suspending the enforcement, 
operation, or effectiveness of such order.
    (b) Duration. Unless set aside, limited, or suspended by the 
Director or his or

[[Page 20261]]

her designee, or by a court in proceedings authorized under section 
1053(c)(2) of the Dodd-Frank Act (12 U.S.C. 5563(c)(2)), a temporary 
cease-and-desist order shall remain effective and enforceable until:
    (1) The effective date of a final order issued upon the conclusion 
of the adjudication proceeding;
    (2) With respect to a temporary cease-and-desist order issued 
pursuant to Sec.  1081.501(b) only, the Bureau determines by 
examination or otherwise that the books and records are accurate and 
reflect the financial condition of the respondent, and the Director or 
his or her designee issues an order terminating, limiting, or 
suspending the temporary cease-and-desist order.

Russell Vought,
Acting Director, Consumer Financial Protection Bureau.
[FR Doc. 2025-08344 Filed 5-12-25; 8:45 am]
BILLING CODE 4810-AM-P


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Indexed from Federal Register on May 13, 2025.

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.