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The agency formerly known as the Consumer Financial Protection Bureau will now be the Bureau of Consumer Financial Protection, Acting Director Mick Mulvaney told an audience of more than 1,300 bankers at an American Bankers Association conference.
The Consumer Financial Protection Bureau’s request for information on its handling of consumer complaints and inquiries is the 12th in a series of RFIs issued as part of Acting Director Mick Mulvaney’s reassessment of bureau practices.
Two sets of reports previously regularly issued by the Consumer Financial Protection Bureau are no longer being updated, and the agency hasn’t offered a public explanation.
Mick Mulvaney
Acting Director Mick Mulvaney offered four suggestions to change the Consumer Financial Protection Bureau in order to “protect [citizens] from government overreach” in his first semi-annual report to Congress.
The Consumer Financial Protection Bureau issued a request for information on its inherited regulations and inherited rulemaking authorities and extended deadlines for three other RFIs.
News surfaced last week of trouble at the Consumer Financial Protect Bureau, but the issues had nothing to do with President Trump or federal court decisions.
The Consumer Financial Protection Bureau and the Federal Trade Commission, which share enforcement responsibilities under the Fair Debt Collection Practices Act released a joint report on their efforts to combat illegal debt collection practices in 2017.
The rule, an update to the 2016 mortgage servicer rule, is aimed at improving communication between mortgage servicers and consumers in bankruptcy. It goes into effect April 19.
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, stated the bureau plans to increase coordination with state attorneys general in enforcing federal consumer financial protection law.
The group of 38 Senators and 75 Representatives, led by Senate Banking Committee Chairman Mike Crapo (R-Idaho) and House Financial Services Committee Chairman Jeb Hensarling (R-Texas), filed the brief late last week.