The Consumer Financial Protection Bureau (CFPB) Office of Regulations recently launched a web form for companies and stakeholders to use when submitting questions about the bureau’s regulations.
Going forward, the web form will replace the email address ([email protected]) that industry and other stakeholders previously used to submit such inquiries. The form can be found on the bureau’s website: https://reginquiries.consumerfinance.gov/
Response times and formats will vary depending on the volume of questions, the amount of time needed to research questions and staff availability, the bureau notes on its website. Most inquiries will be answered within 10-15 business days, unless the agency issues a notice stating that it needs more time.
On its website, the bureau notes that its Office of Regulations offers financial institutions, service providers and others informal staff guidance on specific questions about CFPB regulations, as well as extensive written implementation and guidance materials, which answer several common questions. The agency requests that interested parties consult those materials before submitting questions via the new web form.
“Please understand that the responses we provide are not official interpretations of the bureau and are not a substitute for formal legal counsel or other compliance advice,” the CFPB website states. “For example, we cannot moderate disputes between parties, provide guidance on matters that are under examination or investigation by the bureau or another state or federal agency, or answer questions about specific business plans. We also cannot provide guidance on state law or federal law that is not under the bureau’s authority. Comments on pending rulemakings should be submitted to the public docket. Information on upcoming rulemakings is available in the unified agenda.”