Politics & MoneyMortgage

CFPB wants your input on its guidance and implementation support

Releases ninth request for information

The Consumer Financial Protection Bureau issued its ninth request for information, requesting input on its guidance and implementation support.

The bureau is seeking comments and information from interested parties to assist in assessing the overall effectiveness and accessibility of its guidance materials and activities, including implementation support.

It is considering whether it would be appropriate to make changes to the formats, processes and delivery methods for providing this guidance. It is also considering whether it would be appropriate to make changes to the disclaimers used on certain forms of guidance.

The CFPB will begin accepting comments once the RFI is printed in the Federal Register, which is expected to occur on April 2, 2018. The request will then be open for comment for 90 days.

This is the ninth request 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.

Mulvaney is currently serving as acting director of the CFPB until either President Donald Trump names a permanent replacement for former Director Richard Cordray or, federal court tells him otherwise or Congress replaces him with a bipartisan commission.

These requests for information will, “provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities.”

The bureau previously requested information on adopted regulations and new rulemaking authorities, its rulemaking process, the usefulness of its consumer complaint database, its supervision process, its enforcement process, its administrative adjudications and its civil investigative demands.

The CFPB announced it will request feedback on its consumer education next week. It also plans on asking about consumer inquiries in the weeks to come.

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