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#1743553 - 09/24/12 07:55 PM Weigh in on the proposals
Mary Beth Guard Offline
Platinum Poster
Mary Beth Guard
Joined: Oct 2000
Posts: 797
Oklahoma City, OK
The CFPB wants to get it right the first time. When they come out with the final rules (particularly the Dodd-Frank ones that are out in proposed form right now), they want to fix anything that's a problem with the proposals, deal with any areas where there is a lack of clarity, and address anticipated issues.

To get to that point, banker input is vital. You're the ones in the trenches who can read the proposals and can spot troublesome language.

We know that writing a comment letter is something many of you simply don't have time for -- but it doesn't mean you don't have insights into what's good, what's bad, what might need to be tweaked.

So, we have a plan. In a conversation with the Bureau last week, we pledged to establish a forum in which you can provide your input. We'll have a different thread for each proposal. Tell us what you think is unclear. Point out provisions you believe will have unintended consequences (and tell us what they would be). Explain the practical impact of what's proposed and if you have a suggestion for a better route to achieve the statutory goal, tell us what it is.

We will take the comments and aggregate them. Before the comment deadline for each proposal, we will submit a comment letter on behalf of the BankersOnline community. We're over 50,000 strong -- so we should have a strong voice. This is a way for it to be heard.

Even if you just have a single point to make on a single proposal -- do it. We want to hear what you have to say -- and so does the CFPB. It's in all of our best interests to help flesh these things out. We're going to have to live with the finished product, so we'd better try to shape it into the best end result possible.

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#1743562 - 09/24/12 08:06 PM Re: Weigh in on the proposals Mary Beth Guard
edAudit Offline
Power Poster
Joined: Jul 2008
Posts: 4,787
You are here
Thanks for all you hard work.
Opinions can be considered as coming from anywhere but my employer.


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#1743621 - 09/24/12 09:52 PM Re: Weigh in on the proposals Mary Beth Guard
Andy_Z Offline
10K Club
Joined: Oct 2000
Posts: 27,646
On the Net
We welcome your thoughtful comments. "Me too" comments are also appreciated as they add volume and support to another's comments.

It is NOT our intent to specify who made what comments, or identify the bank that person is registered from. But please, this doesn't mean there is a free ride to just voice a criticism. "This proposal won't work, it's nuts" is not helpful. If a proposal doesn't work, why doesn't it. These must be constructive.

You are still encouraged to file your own comment letters as well.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#1743671 - 09/25/12 12:51 PM Re: Weigh in on the proposals Mary Beth Guard
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Really good idea... The prospect of writing a comment letter is obviously intimidating to a lot of bankers, but it's an essential part of the regulatory process.
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#1743690 - 09/25/12 01:19 PM Re: Weigh in on the proposals Mary Beth Guard
waldensouth Offline
Power Poster
Joined: Nov 2001
Posts: 7,982
FINALLY ABOVE the gnat line
This is an excellent idea. Most of us have so much to do that taking the time to write an individual comment letter is just not feasible. Reading these proposed regs and making comments here for a comment letter will be much more efficient. Thank you!
"Once you learn to read, you will be forever free."

- Frederick Douglass

My Opinion Only.

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#1743856 - 09/25/12 04:48 PM Re: Weigh in on the proposals Mary Beth Guard
Sewanee, CRCM Offline
Gold Star
Joined: Dec 2006
Posts: 435
Great idea.
Keep Calm and Carry On

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#1744114 - 09/25/12 10:07 PM Re: Weigh in on the proposals Mary Beth Guard
Dolly Nugent Offline
Diamond Poster
Dolly Nugent
Joined: Nov 2000
Posts: 1,820
Southern California
Fantastic idea! I can't wait to see everyone's comments. It will get all of us thinking!
Dolly Nugent
Opinions expressed are my own.

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#1744149 - 09/26/12 11:30 AM Re: Weigh in on the proposals Mary Beth Guard
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,029
Cape Cod
We really appreciate your support for this effort, but we'd really like to see some comments on the individual proposals. As newer proposals are added by the CFPB (or other agencies), we'll add new threads to this forum.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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