CFPB asks for input on external engagements

February 21, 2018

CFPB asks for input on external engagements

The CFPB on Wednesday issued a request for information (RFI) on its public and non-public external engagements, including field hearings, town halls, roundtables and meetings of its advisory groups. This RFI is due to be published in the Federal Register Monday and will be open for comments for 90 days.

This RFI is the fifth in a series of requests to obtain public feedback on how to improve the CFPB's functions and outcomes for consumers and the entities it regulates. NAFCU expects the bureau to issue additional RFIs that will similarly seek to review and revise other existing CFPB rules.

The bureau, in its new request, said it would like to assess the effectiveness of its external activities as it engages with stakeholders and the public to inform its actions. It is asking for feedback on all aspects of external engagements, including:

strategies for seeking feedback from diverse stakeholders;
places to hold such meetings in order to maximize engagement;
how to improve transparency associated with planning and holding events;
other methods to solicit and obtain feedback from people outside of Washington, D.C., on the bureau's work;
ways to distribute information about external engagements; and
suggestions on other ways the bureau could obtain constructive input on its work.

NAFCU has provided member credit unions with more details and the opportunity to comment on the CFBP's RFIs through Regulatory Alerts, which can be accessed here. The association will send a Regulatory Alert on the external engagements RFI once it is officially published for comment.

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