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CFPB to Begin Regulatory Review This Month

Posted on 11/3/2011

Treasury Special Advisor Raj Date yesterday told the House Financial Services Financial Institutions Subcommittee that the Consumer Financial Protection Bureau (CFPB) will start reviewing later this month the federal regulations affecting consumers and financial institutions that may be "obsolete, unnecessary, redundant, or counterproductive."

The CFPB "will initiate a targeted review of these rules in search of ways to update and streamline the regulations," Date said. He also told the Subcommittee that the Bureau's process will be "fact-based, pragmatic, and deliberative," and that they will "not press a political agenda."

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