From ABA:

CFPB Will Ask Public to Identify Outdated Regs
"The Consumer Financial Protection Bureau will soon publish a notice in the Federal Register that will ask which regulations it inherited from the other agencies should be streamlined, CFPB officials told ABA yesterday. Raj Date, the acting head of the CFPB, gave members of ABA America’s Community Bankers Council a heads-up on the notice Nov. 9 during their meeting in Washington, D.C. “As an institution, we have no emotional attachment to the way things have been done in the past. If it doesn't make sense, we're going to stop doing it,” Date said.

The notice will ask the public to identify provisions in the inherited regulations that most need to be updated, modified or eliminated because they’re outdated, unduly burdensome or unnecessary. It also will discuss several requirements that may warrant review, and seek suggestions to make complying with the regulations easier. There will be a 90-day comment period on the notice. Read the draft notice. For more information, contact ABA’s Virginia O’Neill."


OK, how does this even make sense?

This is part of their mandate. Also 14 regs will be recodified to 12CFR X, the CFPB. Get your comments re suuggested changes.

Also I posted this in another thread earlier.

Sorry.

Not a complaint! Should be posred everywhere!

How many members of the "public" know anything about banking regs and which ones need updated or eliminated. Why not ask the bankers?

Bankers are the public......