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The Consumer Financial Protection Bureau has published a draft strategic plan and is inviting the public's input on its elements, including its goal of empowering consumers "to live better financial lives."

The bureau lists four goals in all, but the consumer empowerment goal is a key one from credit unions' and other financial institutions' perspective. The bureau says it will advance its goals through specific outcomes, and the two outcomes presented with the consumer empowerment goal are (1) the collection and analysis of consumer complaint data and inquiries; and (2) helping consumers to understand financial products, costs and risks. Part of that is increasing the effectiveness of those providing financial education.

Regarding complaint data, NAFCU still has serious concerns over the reputational risk posed by complaint data published via the CFPB's public complaint database. The association has urged against the public release of information that hasn't been verified as valid.

NAFCU is reviewing the CFPB's proposed strategic plan, which spans 2013-2018. The CFPB has set an Oct. 25 deadline for submitting comments. It is accepting comments by email to StrategyPlanComments@cfpb.gov.