20220628 Letter Manual

20220628 Letter Omnibus

Published

June 22, 2022

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The U.S. Chamber submitted two letters to the Consumer Financial Protection Bureau (CFPB) regarding the agency's imprudent and unlawful actions.

The first letter raises objections to:

  • The Bureau's March 16, 2022 amendment of it Supervision and Examination Manual to examine financial institutions for alleged discriminatory conduct under its "unfair, deceptive, and abusive acts or practices" (UDAAP) authority.

The second letter raises objections to:

  • The CFPB Policy Fellowship program.
  • The Bureau's revisions to its Rules of Practice for Adjudication Proceedings.
  • The Bureau's repeal of its 2013 decision to not publish a final decision establishing supervisory authority over a covered person violates the Administrative Procedures Act.
  • The Bureau's interpretative rule claiming state attorneys general have the authority to enforce the Consumer Financial Protection Act.