The Consumer Financial Protection Bureau plans to rescind nearly 70 guidance documents issued over 14 years, including several that expanded the scope of its public consumer complaint database, according to a regulatory filing.
Many of the guidance documents, interpretive rules, advisory opinions, and policy statements adopted in previous administrations are inconsistent with statutory text and imposed “compliance burdens” without providing an opportunity for notice and comment, acting CFPB Director Russell Vought wrote in a Federal Register notice posted Friday.
“Even where the guidance might advance a permissible interpretation of the relevant statute or regulation, or afforded the public an opportunity ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.