One way we further our mission to protect consumers is through appropriately sharing with state and local law enforcement agencies information that CFPB has gathered. Today, we’re announcing a new dimension in our ongoing sharing efforts. The CFPB recently signed a Memorandum of Understanding (MOU) with the Navajo Nation Department of Justice, setting out a framework for coordination and cooperation between our agencies. This is the first time that the CFPB has entered into an MOU with a tribal government.
We are excited about the opportunity to partner in enforcing federal consumer financial laws to protect consumers on the Navajo Nation. This new agreement supports our work to prevent harmful practices that target Native American consumers.
In addition to memorializing our intent to work together to protect tribal consumers, the MOU is designed to further our mutual consumer-protection goals by providing for the protected exchange of law enforcement-related information. The MOU details how the CFPB will respond to, among other things, third party requests for tribal information. Further, the MOU details the mechanism by which the Navajo Nation Department of Justice may request information from the CFPB and, if shared, protections for that information. These protections are also set forth in our federal regulations at 12 C.F.R. 1070.43 and 1070.47. Finally, as an overarching goal, the MOU confirms the confidentiality and non-disclosure of oral and written information that we share with each other.