The Bureau of Consumer Financial Protection is focusing much of its current rulemaking on implementing the S. 2155 regulatory relief law while clarifying other important policies, according to its latest rulemaking agenda.
The bureau said it reclassified its rulemaking process on small-business data collection and reporting under Section 1071 of the Dodd-Frank Act from “pre-rule” to “longer-term action,” indicating further delay of the ICBA-opposed policy. It is also considering how rulemaking would help clarify the meaning of “abusiveness” under unfair, deceptive or abusive acts or practices (UDAAP), as long advocated by ICBA.
The bureau also is analyzing more than 86,000 comments it received as part of its requests for information on its policies and operations and expects to refine its priorities in time for its spring 2019 agenda.
Read the Bureau’s Agenda