If it’s Wednesday, it must be RFI time (no. 10) from CFPB – guidance effectiveness

“Guidance and implementation” support is the tenth in the series of “requests for information” (RFI) from the federal consumer financial protection agency as the bureau seeks input on effectiveness of the guidance it provides about its regulations and actions. Comments will be due in 90 days.

In a release Wednesday, the Consumer Financial Protection Bureau (CFPB) said the RFI (one of 12 scheduled to be issued in what CFPB Acting Director Mick Mulvaney has termed a “call for evidence” to determine if the agency is fulfilling its job), is aimed at helping the bureau gather more information about the efficacy of its guidance materials and activities, including implementation support.

“The Bureau is also considering whether it would be appropriate to make changes to the formats, processes, and delivery methods for providing this guidance,” the agency stated. “And it is considering whether it would be appropriate to make changes to the disclaimers used on certain forms of guidance.”

Following this RFI, the bureau intends to issue two more: next week, on consumer education; the following week, on consumer inquiries.

All of the RFIs issued to date have had comment periods of 90 days (the first several issued by the bureau had their comments-due dates extended, by 30 days, making the periods consistent across the information requests).

CFPB request for information on its guidance and implementation support