The Consumer Financial Protection Bureau ("CFPB") summarized its Fall 2016 Rulemaking Agenda. The summary outlines various current regulatory initiatives and future projects.
Summarized rulemakings include proposed clarifications to the Know before You Owe disclosure rule, which is part of the Dodd-Frank mandate to integrate and streamline disclosures for residential home mortgages. The CFPB is reviewing comments on the proposal.
The summary noted that CFPB's continuing rulemaking activities will "establish nonbank supervisory authority by defining larger participants of certain markets for consumer financial products and services." The CFPB also summarized its May 2016 proposal concerning the use of arbitration clauses in consumer financial agreements, and proposed rules that would regulate debt collection practices.
The CFPB portion of the OMB Unified Agenda focusing on long-term actions includes potential rulemakings that addresses student loan servicing and credit reporting.
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