Signaling yet another Trump Administration effort to remake the CFPB, the agency Wednesday announced that in the coming weeks, it will solicit public comment on agency enforcement, supervision, rulemaking, market monitoring, and education activities.
The Trump Administration had been highly critical of the agency as it was run by former Director Richard Cordray, contending that Cordray was overly-aggressive. The agency, currently run by Office of Management and Budget Director Mick Mulvaney, is expected to take a much less aggressive approach to enforcement.
For instance, the agency on Tuesday announced it might revise the CFPB's controversial payday lending rules.
Recommended For You
On Wednesday, the agency said it will be calling for "evidence to ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers."
The agency will publish in the Federal Register a series of Requests for Information on agency activities.
"Much can be done to facilitate greater consumer choice and efficient markets, while vigorously enforcing consumer financial law in a way that guarantees due process," Mulvaney said. "I look forward to receiving public comments in response to this call for evidence and encourage all interested parties to participate."
The agency said that the first request for information will cover Civil Investigative Demands, which the agency use in its investigations.
The CFPB's Office of Inspector General reported in September that the agency "generally" complied with rules governing such demands. But the IG also said the agency should improve its crafting of the demands and recordkeeping in connection with the demands.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
