The Consumer Financial Protection Bureau today issued a request for information seeking feedback from the public on administrative adjudications for contested matters that were not resolved by consent order. The request is the second RFI the bureau has issued following Acting Director Mick Mulvaney’s announcement earlier this month that the CFPB will engage in a broad public feedback initiative to ensure that it is fulfilling its statutory requirement to protect consumers. A third request on the bureau’s enforcement processes is expected next week.
Today’s RFI seeks public feedback on whether and how the CFPB should use the administrative adjudications process, and how processes could be improved to achieve the bureau’s statutory objectives while minimizing the burdens and costs on those subject to the proceedings. For more information or to provide input for ABA’s comments on the RFI, contact ABA’s Virginia O’Neill.