CFPB Begins Work to Streamline Consumer Financial Regulations
November 30, 2011
The Consumer Financial Protection Bureau is seeking input on ways to streamline
regulations under the consumer financial laws it inherited from other regulators
under Dodd-Frank. The bureau issued a notice and request for information asking
the public to identify the regulations most in need of updating or elimination
because they are outdated, overly burdensome or unnecessary. It also asked for
suggestions on how to make complying with the rules easier. "Our goal is to make
it easier for banks, credit unions and others to follow the rules," said Raj
Date, the bureau's interim leader. "We're asking the public to help us identify
and prioritize concrete ways that we can streamline the regulations we inherited
so that they work better for consumers and the firms that serve them."
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