The CFPB has now issued five requests for information (RFIs) as part of Acting Director Mulvaney's "Call for Evidence Regarding Consumer Financial Protection Bureau Functions," which we have previously covered. The RFIs provide industry participants a chance to comment on the CFPB's rules, policies, and practices regarding investigations, examinations, enforcement actions, and external engagement.

To date, issued RFIs include:

CFPB Requests for Information Publication in the Federal Register Comment Deadline
Civil Investigative Demands (CIDs) January 26, 2018 April 26, 2018*
Administrative Adjudications February 5, 2018 May 7, 2018*
Enforcement Processes February 12, 2018 May 14, 2018*
Supervision Program February 20, 2018 May 21, 2018
External Engagements February 26, 2018 May 29, 2018
Complaint Reporting March 6, 2018 June 4, 2018
Rulemaking Processes March 9, 2018 June 7, 2018
Adopted Regulations and New Rulemaking Authorities March 21, 2018 June 19, 2018
Inherited Regulations and Inherited Rulemaking Authorities March 26, 2018 June 25, 2018

*Deadline extended.

CFPB RFI Summaries

We have written previously on the CFPB's RFIs regarding CID Processes, Administrative Adjudications, Enforcement Processes, Supervision Program, and External Engagements here. The latest RFIs include the following.

Complaint Reporting

The CFPB publishes aggregated complaint information in several ways, including in its monthly complaint report. The CFPB also maintains a publicly accessible Consumer Complaint Database, which includes complaints about various consumer financial products and services and consumer narratives. The RFI requests input on potential changes to these public reporting practices of consumer complaint information, consistent with the CFPB's statutory obligations.

Rulemaking Processes

The RFI seeks public input regarding the discretionary aspects of the CFPB's rulemaking processes. These discretionary aspects include the CFPB's processes for initial outreach and information gathering, as well as the format and content of its notices of proposed rulemaking (NPRMs) and final rules.

Adopted Regulations and New Rulemaking Authorities

This RFI requests discussion and input regarding the substance of the CFPB's "Adopted Regulations," including whether the CFPB should issue additional rules. The Adopted Regulations include new rules issued by the CFPB, as opposed to rules over which the CFPB assumed responsibility from other agencies. RFI seeks feedback on the content of the Adopted Regulations, and whether and how they could be revised, within the bounds of the statutes they implement, to better serve consumers and regulated entities.

Inherited Regulations and Inherited Rulemaking Authorities

This RFI covers rules that Congress had transferred to the CFPB that were previously vested in other federal agencies, and over which the CFPB assumed responsibility and rulemaking authority (termed the "Inherited Regulations"). RFI seeks feedback on the content of the Inherited Regulations, and whether and how they could be revised, within the bounds of the statutes they implement, to better serve consumers and regulated entities.