CFPB Asks for Complaints About Agency Practices Ahead of Major Shake-up - ABI

The Consumer Financial Protection Bureau (CFPB) is asking the firms it regulates to submit complaints about the agency’s core actions, The Hill reported. The CFPB announced yesterday that the agency will ask “for evidence to ensure the bureau is fulfilling its proper and appropriate functions to best protect consumers.” The request is the latest step forward in acting Director Mick Mulvaney’s effort to draw back the bureau’s aggressive regulatory and enforcement actions. The CFPB will publish a series of requests for comment in the federal register, often the first step an agency takes before proposing a rule. The first request asks for complaints about the bureau’s civil investigative demands, a type of subpoena the bureau uses during enforcement actions.

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