AFSA Asks the Bureau to Improve Field Hearings

In response to a request for information from the Bureau of Consumer Financial Protection on its external engagements, AFSA wrote that the Bureau should improve field hearings so that they provide more meaningful feedback, instead of functioning as well-attended and lengthy press conferences designed to justify a proposed rule.

This week’s letter was the fifth in a series of letters to the Bureau answering a call for evidence. The Bureau is collecting information on how to ensure that it is fulfilling its proper and appropriate functions to best protect consumers.

In addition to commenting on the field hearings, AFSA wrote about the Bureau’s roundtables, advisory boards and councils, as well as its studies and methodologies. AFSA said, “… that the Bureau’s roundtables have been a successful way to gather information, that the Bureau’s advisory boards and councils should be more balanced, and that the Bureau should request comments on the studies it conducts and the methodologies it intends to use.”

The next three letters will focus on rulemaking and regulations.