On January 17, 2018, the Consumer Financial Protection Bureau (CFPB or “Bureau”) announced that it soon will begin issuing a series of Requests for Information (RFIs) to “ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers.” The CFPB said the RFIs will seek public comment on enforcement, supervision, rulemaking, market monitoring, and education activities, with the goal of providing “an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities.”

In the CFPB press release, acting Director Mick Mulvaney said that “under new leadership, it is natural for the Bureau to critically examine its policies and practices to ensure they align with the Bureau’s statutory mandate.” He added that “[m]uch can be done to facilitate greater consumer choice and efficient markets, while vigorously enforcing consumer financial law in a way that guarantees due process.” Acting Director Mulvaney also said that “[m]oving forward, the Bureau will consistently seek out constructive feedback and welcome ideas for improvement.”