On September 24, the Bipartisan Policy Center (BPC) released a paper and held an event regarding the CFPB’s activities in its first three years, and potential changes to the agency and its policies going forward. The paper, generally critical of the CFPB’s use of guidance, expressed a preference for rulemakings to implement policy. The BPC argued that if the CFPB must issue substantive guidance, then it should employ a more open and transparent process, seeking input from a variety of parties, including consumer groups and regulated entities. In addition, the BPC identified several concerns with the CFPB’s supervisory and examination processes and recommended that the CFPB, among other things, (i) establish a specific policy setting timelines for closing out examinations, (ii) end its policy of including enforcement staff in the supervisory process, (iii) renew its effort to recruit and train high-quality supervisory and examination staff, and (iv) improve coordination with other agencies, particularly to integrate the CFPB’s product-based approach. The BPC also addressed, among other things, the CFPB’s requests for data from regulated entities, the use of its civil penalty fund, oversight of the Bureau, and the development and implementation of performance metrics.