CUNA is seeking your valuable input on the
streamlining of existing regulations inherited by the Bureau of Consumer Financial Protection.
The Bureau of Consumer Financial Protection (CFPB) has issued a notice requesting the input of the financial industry and consumers on how best to modify the regulations it now oversees. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2009 (Dodd-Frank Act), the CFPB has responsibility for various consumer protection statutes and their implementing regulations including: The Truth & Lending Act, the Truth in Savings Act, the Electronic Funds Transfer Act, the Real Estate Settlement Procedures Act and others.
The CFPB’s priority over the next year will be focused on amendments to Regulation Z Mortgage Disclosures required by the Dodd-Frank Act, as well as other mortgage related requirements under the Dodd-Frank Act. However, the CFPB is also seeking input as to what regulations it should streamline or reorganize in addition to Regulation Z. The CFPB wants to have comments on its priority areas submitted by March 5, 2012. A copy of CUNA’s Comment Call summarizing the CFPB’s request for comments is
; it also provides a link to the CFPB’s request.
Thank you, in advance, for your assistance.