ICBA said it supports the Consumer Financial Protection Bureau's plan to periodically review its rules under the Regulatory Flexibility Act. In a comment letter, ICBA also recommended that the bureau publish an annual report that summarizes comments and information collected during its reviews.
ICBA also asked the CFPB to voluntarily participate in the Economic Growth and Regulatory Paperwork Reduction Act regulatory reviews that are conducted by prudential banking regulators every 10 years. ICBA separately supports bipartisan legislation that would formally include the CFPB in EGRPRA reviews and require them every seven years rather than every 10.
Read ICBA Comment Letter