CFPB changing peer review procedures

The Consumer Financial Protection Bureau (CFPB) announced that it will adopt new procedures for external peer review of data and reports from the bureau, beginning with findings from testing around the disclosure of time-barred debt.

The move comes months after the agency finalized a payday lending rule in which the bureau altered the interpretation of data originally used to justify the passage of ability-to-repay standards for payday lending.

Read on for more details from the CFPB’s announcement.