The Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) today on its complaint reporting process, the latest in a series of RFIs issued by the bureau.
“We’re appreciative of the bureau’s ongoing effort to collect evidence on how it performs its duties, and CUNA plans to weigh in on most, if not all, of the RFIs to share ways the CFPB can help credit unions better execute their mission,” said Elizabeth Eurgubian, CUNA deputy chief advocacy officer. “We’ve had concerns about the CFPB’s complaint process in the past, and will reiterate those in our response.”
CUNA wrote to the CFPB in December outlining its ongoing concerns with the bureau’s consumer complaint reporting process, specifically on its utility and overall benefit to consumers.
This is the sixth RFI issued by Acting Director Mick Mulvaney, part of his call for evidence that the bureau is fulfilling its proper and appropriate functions to best protect consumers.
Additional RFIs in the coming weeks are expected to cover the rulemaking processes, guidance and implementation support, consumer inquiries and more.