Federal Register: CFPB Proposes Framework for Periodic Rule Review

The CFPB-proposed framework for certain periodic rule reviews was published in the Federal Register. Comments on the framework must be received by July 15, 2019.

As previously covered, the CFPB intends to commence the review roughly nine years after each rule's publication. The CFPB will consider several factors in each review, including:

1. the continued need for the rule;

2. the nature of public complaints or comments on the rule;

3. the complexity of the rule;

4. the extent to which the rule overlaps, duplicates, or conflicts with Federal, state, or other rules; and

5. the time since the rule was evaluated or the degree to which technology, market conditions or other factors have changed the relevant market.