CFPB Seeks Feedback on Rulemaking Processes

The Consumer Financial Protection Bureau issued a request for information seeking feedback on its rulemaking processes — the seventh in an ongoing series of RFIs designed to provide the CFPB with input on how it is fulfilling its statutory obligations and how to improve outcomes for both consumers and covered entities.

The public is invited to submit comments on the efficiency and effectiveness of the CFPB’s rulemaking processes, including its initial outreach and information gathering efforts, its analysis of the effects of proposed and final rules and its consultation with prudential regulators about proposed and final rules. Commenters are invited to provide feedback on positive and negative aspects of the rulemaking process, as well as suggestions on how certain processes could be improved and on any processes that should not be modified. For more information, or to provide feedback for ABA’s response to the RFI, contact ABA’s Shaun Kern.