James Varney, RCInvestigations
Donovan does not run a bank or a financial services firm. His Virginia-based company, Nexus Services, specializes in securing bonds for detained immigrants. Nevertheless, the CFPB issued Nexus a “civil investigative demand” (CID) for voluminous documents, including all of its client information. Asserting its authority through the rationale that Nexus’ bond services are a form of credit, the bureau did not allege any specific wrongdoing in its demand, although it insinuated that Nexus may employ deceptive practices to land clients.
Source: Real Clear Politics