Politics & MoneyMortgage

CFPB requests information on consumer financial education

Issues 11th request for info this year

The Consumer Financial Protection Bureau issued its 11th request for information this year, asking for participants to weigh in on consumer financial education.

The bureau is asking for assistance in determining the overall efficiency and effectiveness of its consumer financial education programs including its delivery of financial education through online tools, print publications and community collaborations.

The CFPB will begin accepting comments once the RFI is printed in the Federal Register, which is expected to occur on April 9, 2018. The request will then be open for comment for 90 days.

This is the 11th 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 its guidance and implementation supportadopted 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 consumer inquiries next week.

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