Change Allows Public to Petition CFPB Directly

By Staff Writer February 17, 2022

The Consumer Financial Protection Bureau made it easier for the public to engage with the agency and request regulatory changes. Starting Feb. 16, members of the public can submit petitions for rulemaking directly to the CFPB. The petitions will be posted on public dockets for review and comment.

“Americans should be able to easily exercise their Constitutional rights without hiring a high-priced lawyer or lobbyist,” said CFPB Director Rohit Chopra. “Our new program will broaden access to the agency’s rulemaking process.”

The U.S. Constitution guarantees the public’s right to petition the government. While members of the public have long had the ability to comment on rules and other initiatives, many individuals and small businesses believe they must hire former government officials, lawyers, or lobbyists to be heard by an agency.

The reforms will make it easier for individuals to directly submit a petition for rulemaking to the CFPB. Members of the public can request that the agency pursue a new rule, amend an existing one, or repeal a rule. Former government employees and other individuals who are paid to influence the agency’s rulemaking agenda behind the scenes will be asked to submit their petition for public inspection instead.

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Last modified on Thursday, 24 February 2022 16:00