Next week brings a new House subcommittee hearing on the Bureau of Consumer Financial Protection (BCFP, formerly referred to as CFPB) plus a handful of comment deadlines and events focusing on financial services industry issues and regulation.
A House Financial Services panel on June 6 will hold a hearing looking into how to improve transparency and accountability at the BCFP, which is also involved in two events on combatting elder financial exploitation (one of them in partnership with Treasury’s Financial Crimes Enforcement Network, or FinCEN). Two comment deadlines are near for two of the bureau’s 12 “call for evidence” requests for information (RFIs), and the Federal Deposit Insurance Corp. (FDIC) hosts a “Money Smart” webinar for small businesses.
Here are the dates and more details:
June 4: Comments are due to the BCFP on its RFI on bureau public reporting of consumer complaint information. This RFI, issued March 1, seeks public input about potential changes to BCFP’s public reporting practices of consumer complaint information, and to consider whether any changes to the practices would be appropriate. As of Thursday, 22,820 comments had been received, according to Regulations.gov. Go here to read more and submit comments.
June 6: The House Financial Services Subcommittee on Financial Institutions and Consumer Credit holds a hearing titled “Improving Transparency and Accountability at the Bureau of Consumer Financial Protection.” The hearing is scheduled to begin at 2 p.m. ET. No witness list had been published as of press time (check back for updates).
June 7: Comments are due on the BCFP’s bureau rulemaking processes RFI. Issued March 7, this RFI seeks information to assist the bureau in assessing the overall efficiency and effectiveness of its rulemaking processes and, consistent with law, considering whether any changes to its rulemaking processes would be appropriate. As of Thursday, Regulations.gov counted 31 comments received. Go here to read more and submit comments.
June 7: The BCFP and FinCEN will hold a webinar from 2-3:30 p.m. on elder financial exploitation. The webinar will focus on a joint agency memorandum from 2017 encouraging coordination among financial institutions, law enforcement and adult protective service agencies to protect against elder financial exploitation; and how suspicious activity reports (SARs) may assist law enforcement in related investigations. Register here.
June 7: The FDIC holds a “Money Smart for Small Businesses” webinar, which is targeted to bank and nonprofit staff who train or serve entrepreneurs. The webinar, scheduled from 2-3 p.m. ET, offers a practical introduction to topics related to starting and managing a business. Developed jointly by FDIC and the U.S. Small Business Administration (SBA), the instructor-led curriculum consists of 13 modules available in English and Spanish that can be downloaded by anyone. Register here (link via FDIC’s Money Smart events web page).
June 8: BCFP Acting Director Mick Mulvaney speaks during a town hall in Topeka, Kan., on combating elder financial exploitation. Also speaking will be Kansas Attorney General Derek Schmidt, followed by a discussion with representatives from the state attorney general’s Senior Consumer Protection Advisory Council. The event, hosted by BCFP, is scheduled to run from 9-11 a.m. local time (CT) at Washburn University (in the KBI Forensic Laboratory Lecture Hall, according to the bureau). Deadline to RSVP is June 7.