Client Alert

CFPB Requests Information on Supervision Processes

20 Feb 2018

On February 14, 2018, the Consumer Financial Protection Bureau issued a Request for Information seeking comments on improvements to the CFPB’s supervision program and “how best to achieve meaningful burden reduction.” The CFPB is seeking comments from “all interested members of the public,” including supervised entities, companies supervised by other agencies, consumer advocates, and regulators. The CFPB asks commenters to provide “as much detail as possible” without disclosing confidential supervisory information. This RFI is the fourth in a series of RFIs that the CFPB has issued under Acting Director Mick Mulvaney. According to the Bureau, it represents an attempt to “ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers.” As with the previous RFIs, this RFI presents an opportunity for commenters to provide specific suggestions for modifications to activities and functions of the CFPB.

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