The Consumer Financial Protection Bureau (CFPB) is looking for feedback from the public on the bureau’s enforcement processes.
In a Request for Information (RFI) issued this week, the CFPB said it is seeking information to help assess the overall efficiency and effectiveness of its processes related to the enforcement of federal consumer financial law. The RFI gives the public an opportunity to submit feedback and suggest ways to improve outcomes for both consumers and covered entities.
Commenters should make specific suggestions regarding any potential updates or modifications to the bureau’s enforcement processes, consistent with the Bureau’s statutory objectives. More information is available on the CFPB website.
The CFPB will start accepting comments once the RFI is printed in the Federal Register, which is expected to happen on Feb. 12.
This is the third in a series of RFIs announced issued by the CFPB’s acting director Mick Mulvaney, who replaced former director Richard Cordray in December. The first two RFI’s sought feedback on whether the bureau is fulfilling its function and how the bureau is handling civil investigative demands.
The next RFI, to be issued next week, will address the bureau’s supervisory processes. The RFI’s are part of the bureau’s commitment to ensure that it is fulfilling its proper and appropriate functions to best protect consumers.