November 30, 2021

Volume XI, Number 334

Advertisement
Advertisement

November 29, 2021

Subscribe to Latest Legal News and Analysis
Advertisement

CFPB Issues Request for Information on Its Consumer Financial Education Programs

On April 4, 2018, the Consumer Financial Protection Bureau (“CFPB”) released its latest Request for Information (“RFI”), which seeks comments on the “overall efficiency and effectiveness” of the CFPB’s consumer financial education programs. Generally, the CFPB is requesting comment on its focus on various topics, programs, and delivery channels and methods (presumably to identify if those are the right topics and tools); its use of technology in delivering financial education; and the procurement process it uses to support this work. More specifically, the CFPB is requesting suggestions on ways to:

  • Improve existing consumer financial education programs, including delivery mechanisms for such programs;
  • More effectively evaluate and measure the effectiveness of the CFPB’s financial education work; and
  • Eliminate or minimize the overlap between the CFPB’s consumer financial education programs and the work that other agencies perform.

Notably, financial education was the first topic discussed in the CFPB’s recent semi-annual report and appears to be an area on which the CFPB is quite focused. The CFPB will accept comments for 90 days after the RFI is published in the Federal Register.

The RFI on consumer financial education programs is the eleventh in a series of RFIs issued under the direction of Acting Director Mick Mulvaney. In the press release announcing this RFI, the CFPB stated that it will issue another RFI regarding consumer inquiries next week.

© 2021 Covington & Burling LLPNational Law Review, Volume VIII, Number 95
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

About this Author

Lucille C. Bartholomew, Covington Burling, Financial and litigation attorney
Associate

Lucille C. Bartholomew is an associate in the financial institutions group. Her practice focuses on assisting financial institutions with enforcement, compliance, and transactional matters.

Representative Matters

  • Representing financial institutions in connection with OCC, FDIC, Federal Reserve Board, SIGTARP, FTC, and CFPB investigations.
  • Representing financial institutions in conducting internal investigations, including for sales practices and anti-money laundering issues.
  • ...
202-662-5079
Advertisement
Advertisement
Advertisement