Date: February 14, 2013
Issue: Consumer Financial Protection Bureau
To: The Consumer Financial Protection Bureau
Filing Type: Regulatory
Description: CCMC sent a letter to the Consumer Financial Protection Bureau (CFPB) with specific suggestions for the Bureau to eliminate inefficiency and unjustified burdens in connection with its supervision and investigatory processes. Last summer, CCMC sent a similar letter outlining twelve steps the Bureau could take to improve its supervisions and regulatory processes. While the Bureau has provided some information about its organizational structure and regulatory agenda, no action has been taken on most of the suggestions, including all of those that would significantly eliminate the uncertainty and lack of clarity that continues to cloud the Bureau’s activity and therefore imposes significant costs on the huge number of businesses subject to the Bureau’s jurisdiction.