CFPB Requests Feedback On Enforcement Processes

On February 12, the Consumer Financial Protection Bureau (Bureau) continued its review of Bureau functions by publishing a Notice and Request for Information on its enforcement processes (Enforcement RFI).¹ In January, the Bureau announced it would begin examining its policies and practices by publishing RFIs seeking comment on enforcement, supervision, rulemaking, market monitoring, and education activities.² The Enforcement RFI is the third in the series of reviews. Comment periods remain open for RFIs relating to the Bureau's use of civil investigative demands and adjudication proceedings. The next RFI will request feedback on supervisory processes.

The Enforcement RFI provides the industry with an opportunity to reform the Bureau's enforcement practices. Many industry participants, and especially banks subject to supervision and enforcement by both the Bureau and their prudential regulator, may consider requesting that the Bureau more closely align