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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Bureau settles suit over taskforce report

In October 2019, the CFPB chartered a Taskforce on Federal Consumer Financial Law to provide recommendations to improve consumer financial laws and regulations. On January 5, 2021, the Taskforce released its report and recommendations. Shortly thereafter, the National Association of Consumer Advocates, U.S. Public Interest Research Group, and Professor Kathleen Engel brought suit against the CFPB, alleging that the Taskforce did not comply with the Federal Advisory Committee Act (FACA).

The Bureau has announced it entered into a stipulated settlement agreement that required that the CFPB release all Taskforce records that would have been made public if the Bureau had complied with FACA's "sunshine" requirements by March 22, 2022. The Taskforce records will also be made publicly available on the CFPB's website. A disclaimer has been added to the Taskforce's report noting that the CFPB failed to comply with FACA and that the report should not be relied upon as a product of a FACA-compliant federal advisory committee.

Taskforce report (amended 1/14/2022):

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