Washington Report

Advocacy Updates from Washington D.C.

CFPB Seeks Feedback on Rulemaking

The Consumer Financial Protection Bureau (CFPB) has issued another Request for Information (RFI), focused on the agency’s rulemaking processes. The RFI is examining how the agency proposes rules for notice and comment, the costs and benefits analysis conducted when formulating the rules, and how the bureau consults with other federal agencies to ensure consistency and avoid duplication, among other issues.

The CFPB has issued a number of other RFIs on separate agency practices that are all being used to assess the efficiency and effectiveness of the agency. Links to RFIs  and comment due dates are as follows:

  1. Civil investigative demands (CIDs) - due March 27, 2018
  2. Administration adjudications - due April 6, 2018
  3. Enforcement proceedings - due April 13, 2018
  4. Supervision - due May 21, 2018
  5. External engagements - due May 29, 2018
  6. Consumer complaint database – due June 4, 2018.
  7. Rulemaking processes - due June 7, 2018.

NAR will be submitting comments on the RFIs and encourage feedback from members wishing to weigh in on these important issues anonymously.  

For more on the CFPB’s RFI efforts, including future requests, please visit this page on the CFBP website.