WASHINGTON, D.C. — The Bureau of Consumer Financial Protection (Bureau) today issued a report and Request for Information (RFI) regarding the Bureau’s sources of data and how data is used. The report provides transparency into how the Bureau collects and uses data and the accompanying RFI gives the public an opportunity to comment on those practices.
To carry out its statutory functions and obligations, the Bureau obtains data to inform its decisions. To date, the Bureau has undertaken more than 188 data collections from public sources, government agencies, commercial vendors, financial institutions, and consumers.
This report addresses questions concerning the sources of the Bureau’s data and its use. It describes what data the Bureau collects, where it comes from, and how it is accessed and reused within the Bureau. In addition, it publishes the full text of the Bureau’s internal data governance policies and charters. The accompanying RFI will give the public an opportunity to submit feedback on the Bureau’s data governance program and data use and suggest ways to improve outcomes for both consumers and covered entities.
The RFI on the Bureau’s Sources and Uses of Data is available at: https://www.consumerfinance.gov/policy-compliance/notice-opportunities-comment/open-notices/request-information-regarding-bureau-data-collections/
The Bureau will begin accepting comments once the RFI is printed in the Federal Register, which is expected within 3 to 5 business days. The RFI will be open for comment for 90 days.
The report to accompany this RFI is available at: https://www.consumerfinance.gov/data-research/research-reports/sources-and-uses-data-bureau-consumer-financial-protection/
The Bureau of Consumer Financial Protection is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.