CFPB Begins Work to Streamline Consumer Financial Regulations

November 30, 2011
American Banker  
consumer financial protection bureau news

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for information asking the public to identify the regulations most in need of updating or elimination because they are outdated, overly burdensome or unnecessary.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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