CFPB Posts New Rules on Enforcement of Consumer Financial Law

The Consumer Financial Protection Bureau today posted three final rules and an interim rule regarding the agency’s procedures and practices related to enforcing federal consumer financial law. 

The rules outline the ways in which the CFPB will go about conducting investigations and hearings, as well as receiving state-specific notifications and implementing the Equal Access to Justice Act. 

Initially posted as interim rules in July 2011, the CFPB has collected comments and is now proposing final rules based upon those comments and public feedback. 

“These rules allow the agency to stay abreast of developments in consumer financial law, investigate possible violations of these laws, and bring actions to enforce these laws, helping us better serve our mission of protecting American consumers,” wrote CFPB Deputy Enforcement Director for Litigation Ori Lev in a notification on the bureau’s website. 

The CFPB details the rules on its website

Written by Elizabeth Ecker

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