The Consumer Financial Protection Bureau (CFPB) is seeking feedback from interested parties on the usefulness of complaint reporting and analysis.
The request for information (RFI), issued last week, also seeks specific suggestions or best practices for complaint reporting.
This is the sixth in a series of RFIs issued by the CFPB’s acting director Mick Mulvaney, who replaced former Director Richard Cordray in December. Other RFI’s sought feedback on the CFPBs enforcement processes, supervisory framework, and how it is handling civil investigative demands, to name a few. The RFIs are part of an ongoing effort to ensure the CFPB is fulfilling its duty to best protect consumers.
This RFI will give the public an opportunity to suggest ways to improve outcomes for both consumers and covered entities on complaint reporting. The CFPB will begin accepting comments on or about March 7, or after the RFI is printed in the Federal Register. The comment period is open for 90 days.
The next RFI, which will be issued this week, will address the CFPB’s rulemaking processes. In the coming weeks, the CFPB anticipates issuing RFIs on several subjects, including bureau adopted rules, inherited rules, guidance and implementation support, consumer education, and consumer inquiries.