Consumer board seeks comments on how it conducts rulemaking process

By Mark Iandolo | Mar 19, 2018

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced March 7 that it has issued a request for information (RFI) about the way it conducts its rulemaking process, and it is seeking comments from businesses and the general public.

The RFI will be open for comments 90 days from March 9. The goal of the RFI is to evaluate the efficiency and effectiveness of the bureau’s rulemaking process. This is one of multiple RFIs as part of acting director Mick Mulvaney’s strategy to ensure the board fulfills its proper and appropriate functions to protect consumers.

Commenters are encouraged to submit feedback about the rulemaking process and suggest ways the CFPB can improve the process for both consumers and businesses.

The CFPB will also be issuing RFIs about bureau adopted rules, inherited rules, guidance and implementation support, consumer education and consumer inquiries.

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