CFPB Issues Request For Information On Rulemaking Processes

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) about the Bureau’s rulemaking processes. The Bureau is seeking comments and information from interested parties to help assess the overall efficiency and effectiveness of its rulemaking processes. This is the seventh in a series of RFIs announced as part of Acting Director Mick Mulvaney’s call for evidence to ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers. This RFI will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities. The next RFI in the series will address the Bureau’s adopted rules, and will be issued next week.

The RFI on rulemaking processes is available at: https://files.consumerfinance.gov/f/documents/cfpb_rfi_rulemaking-processes_032018.pdf

The CFPB will begin accepting comments once the RFI is printed in the Federal Register, which is expected to occur on March 9. The RFI will be open for comment for 90 days.

The Bureau anticipates issuing RFIs on the following topics in the coming weeks:

  • Bureau Adopted Rules
  • Inherited Rules
  • Guidance and Implementation Support
  • Consumer Education
  • Consumer Inquiries

More information about the call for evidence is available at: http://www.consumerfinance.gov/policy-compliance/notice-opportunities-comment/open-notices/call-for-evidence/

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The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering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.