CFPB Sets Out Rulemaking Agenda

The Consumer Financial Protection Bureau (CFPB) quietly released its spring rulemaking agenda, which sets forth five rules that the CFPB expects to complete before May 31, 2023. Unlike in the past, the CFPB did not issue a press release or post the agenda on its website. As required by law, the CFPB submitted the agenda to the Office of Budget and Management, which subsequently published it.

The five rulemakings are as follows:

A rule to implement Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which requires a covered entity (such as a bank) to make available to consumers upon their request transaction data and other information concerning a consumer financial product or service that they have obtained from the covered entity. The CFPB published an Advance Notice of Proposed Rulemaking in November 2020 concerning implementation of Section 1033 and seeking comments.

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