CFPB Seeks Input on Guidance, Implementation Support

The Consumer Financial Protection Bureau has issued a request for information seeking feedback on the guidance and implementation support it provides to the public, including banks and other regulated entities. The request is the tenth in an ongoing series of RFIs designed to provide the CFPB with input on how to improve outcomes for both consumers and covered entities.

The public is invited to submit comments on the overall effectiveness and accessibility of the CFPB’s guidance and implementation support resources, including whether it should make changes to the formats, processes and delivery methods for providing these resources. In addition, the RFI raises questions about the array of guidance documents issued by the bureau, which can have legal and practical significance. It also invites comment on the CFPB’s approach to determining when to issue interpretive rules and official interpretations rather than a bulletin, FAQ or summary.  For more information, or to provide input for ABA’s comment letter, contact ABA’s Rob Rowe or Hu Benton.