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NAFCU, through a Regulatory Alert sent to member credit unions Friday, is asking for input on the CFPB's enforcement processes. NAFCU remains engaged with the bureau to find ways to reduce credit unions' regulatory burden.

The CFPB earlier this month issued a request for information to help the bureau assess the efficiency and effectiveness of its enforcement processes. In its request, the bureau said it would like feedback "on how best to achieve meaningful burden reduction" or other improvements to its enforcement of federal consumer financial law, while still meeting statutory objectives and being fair and transparent in its actions.

The request is part of a series of requests for the CFPB to obtain public feedback on how to improve its functions and outcomes for the consumers and entities it regulates. The bureau has also issued requests for information on civil investigative demands (CIDs), administrative adjudications and its supervision program.

Through NAFCU's Regulatory Alert, credit unions can offer input on possible modifications to the CFPB's enforcement processes, including:

• whether subjects of potential enforcement actions should have the right to make an in-person presentation before the bureau determines if it should initiate legal proceedings;
• whether the CFPB should adopt a civil money penalty matrix; and
• to what extent the bureau should coordinate its enforcement activity with other agencies that may have overlapping jurisdictions.

Credit unions can submit comments to NAFCU through its Regulatory Alert until March 30; comments are due to the CFPB April 13.