CFPB issues RFI on regs and rulemaking authorities

March 22, 2018

The Consumer Financial Protection Bureau (CFPB) has issued a request for information (RFI) on the bureau’s inherited regulations and inherited rulemaking authorities.

The CFPB is seeking comments and information parties to assist the bureau in considering whether it should amend the regulations or exercise the rulemaking authorities that it inherited from other federal government agencies.

This is the ninth in a series of RFIs announced as part of Acting Director Mick Mulvaney’s call for evidence to ensure the CFPB is fulfilling its functions to protect consumers. This RFI will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities. The next RFI in the series will address the CFPB’s guidance and implementation support, and will be issued next week.

The CFPB will begin accepting comments once the RFI is printed in the Federal Register, which is expected to occur on March 26. The RFI will be open for comment for 90 days.

The Bureau anticipates issuing RFIs on the following topics in the coming weeks:

Guidance and implementation support;

Consumer education; and

Consumer inquiries.

The CFPB has also extended the comment deadlines for the first three RFIs issued as part of the call for evidence.