Following an internal review, the Bureau has concluded that the Taskforce on Federal Consumer Financial Law was subject to, and was not operated in compliance with, the Federal Advisory Committee Act. The Taskforce's final report therefore should not be relied upon as a product of a federal advisory committee that was established or operated in compliance with FACA.
Further information regarding the Bureau's violations of the Act can be found on page i of the Taskforce Report.
Taskforce on Federal Consumer Financial Law
The Taskforce on Federal Consumer Financial Law will bring together external experts to examine ways to harmonize and modernize federal consumer financial laws.
The Taskforce on Federal Consumer Financial Law will examine the existing legal and regulatory environment facing consumers and financial services providers and report to Director Kraninger its recommendations for ways to improve and strengthen consumer financial laws and regulations. The taskforce will produce new research and legal analysis of consumer financial laws in the United States, focusing specifically on harmonizing, modernizing, and updating the enumerated consumer credit laws—and their implementing regulations—and 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 will study the current legal and regulatory environment facing consumers and financial services providers and report its recommendations on ways to improve consumer financial laws and regulations to Director Kraninger.