{"id":8657,"date":"2018-05-15T09:12:20","date_gmt":"2018-05-15T13:12:20","guid":{"rendered":"http:\/\/centerforfinancialstability.org\/wp\/?p=8657"},"modified":"2018-05-15T09:12:20","modified_gmt":"2018-05-15T13:12:20","slug":"cfpb-reviews-spring-2018-rulemaking-agenda","status":"publish","type":"post","link":"https:\/\/centerforfinancialstability.org\/wp\/2018\/05\/15\/cfpb-reviews-spring-2018-rulemaking-agenda\/","title":{"rendered":"CFPB Reviews Spring 2018 Rulemaking Agenda"},"content":{"rendered":"<p>The Consumer Financial Protection Bureau (&#8220;CFPB&#8221;) <a href=\"https:\/\/www.reginfo.gov\/public\/jsp\/eAgenda\/StaticContent\/201804\/Preamble_3170.html\">listed<\/a> &#8220;the regulatory matters that the Bureau reasonably anticipates having under consideration during the period from May 1, 2018, to April 30, 2019.&#8221; This agenda is part of the Spring 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions. The notice outlined Acting CFPB Director Mick Mulvaney&#8217;s leadership priorities.<\/p>\n<p>In a blog post, the CFPB <a href=\"https:\/\/www.consumerfinance.gov\/about-us\/blog\/spring-2018-rulemaking-agenda\/\">explained<\/a> that it intends to reopen rulemaking regarding two prior regulations: (i) the implementation of the <a href=\"https:\/\/www.findknowdo.com\/us\/usc\/home-mortgage-disclosure-act\">Home Mortgage Disclosure Act<\/a>, regarding, among other aspects, the &#8220;institutional and transactional coverage tests and the rule&#8217;s discretionary data points&#8221; and (ii) the <a href=\"https:\/\/www.findknowdo.com\/us\/fr\/2017-21808\">Payday, Vehicle Title, and Certain High-Cost Installment Loans<\/a> rule before their compliance dates in August 2019. The CFPB plans to maintain certain other rulemakings that were previously implemented.<\/p>\n<p>The CFPB also set out its agenda for proposed rules and guidance. Among other things, the agency noted that it would attempt to reduce any &#8220;unwarranted regulatory burden.&#8221; The CFPB intends to:<\/p>\n<ul>\n<li>propose a rule to improve communication practices and consumer disclosures of collectors under the <a href=\"https:\/\/www.findknowdo.com\/us\/usc\/fair-debt-collection-practices-act\">Fair Debt Collection Practices Act<\/a>;<\/li>\n<li>require financial institutions &#8220;to collect, report and make public certain information concerning credit applications made by women-owned, minority-owned, and small businesses&#8221;; and<\/li>\n<li>open rulemaking to address mortgage requirement issues under the Dodd-Frank Act.<\/li>\n<\/ul>\n<p>The CFPB also listed its potential long-term actions (beyond the next 12-month period) and reclassified certain rulemakings as &#8220;inactive.&#8221; Regulation Z subparts B and G, which concern the extension of credit under the <a href=\"https:\/\/www.findknowdo.com\/us\/usc\/truth-in-lending-act\">Truth in Lending Act<\/a>, will be moved to the long-term actions list.<\/p>\n<blockquote><p>Lofchie Comment: Mr. Mulvaney&#8217;s rethinking of Mr. Cordray&#8217;s policies illustrates the potential benefits of reconstituting the CFPB from being a bureau led by a single partisan individual to a commission with representatives of both major political parties. With a five-person commission, if the chair of the commission attempts to obtain unanimous votes on new rules, it is far more likely that those rules will reflect a consensus that is likely to survive elections.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Consumer Financial Protection Bureau (&#8220;CFPB&#8221;) listed &#8220;the regulatory matters that the Bureau reasonably anticipates having under consideration during the period from May 1, 2018, to April 30, 2019.&#8221; This agenda is part of the Spring 2018 Unified Agenda of &hellip; <a href=\"https:\/\/centerforfinancialstability.org\/wp\/2018\/05\/15\/cfpb-reviews-spring-2018-rulemaking-agenda\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,9],"tags":[],"class_list":["post-8657","post","type-post","status-publish","format-standard","hentry","category-banking-and-shadow-banking","category-reg"],"_links":{"self":[{"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/posts\/8657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/comments?post=8657"}],"version-history":[{"count":1,"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/posts\/8657\/revisions"}],"predecessor-version":[{"id":8658,"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/posts\/8657\/revisions\/8658"}],"wp:attachment":[{"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/media?parent=8657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/categories?post=8657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/centerforfinancialstability.org\/wp\/wp-json\/wp\/v2\/tags?post=8657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}