Request for Information to Assist the Taskforce on Federal Consumer Financial Law
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Taskforce on Federal Consumer Financial Law (Taskforce). The Taskforce is an independent body within the Bureau and reports to the Bureau’s Director. The Taskforce is charged with developing recommendations on harmonizing, modernizing, and updating the Federal consumer financial laws, as well as identifying gaps in knowledge that should be addressed through research, ways to improve consumer understanding of markets and products, and potential conflicts or inconsistencies in existing regulations and guidance.
The Taskforce is seeking input from the public at this time to help identify areas of consumer protection on which it should focus its research and analysis during the balance of its one-year appointment. To provide the public with an opportunity to consider fully the questions that the Request for Information (RFI) poses while at the same time also ensuring that the Taskforce receives timely feedback, the RFI provides a period of 60 days for the public to submit comments. The comment window will close on June 1, 2020. The RFI is one of multiple opportunities for the public to provide feedback directly to the Taskforce, and the feedback received will help inform the Taskforce’s recommendations.