Now CFPB wants feedback on enforcement process

Consumer Financial Protection Bureau acting director Mick Mulvaney issued another request for information (RFI); this time in connection with the bureau’s enforcement processes. (Photo courtesy of the White House)
WASHINGTON, D.C. - 

Along with naming a chief of staff who formerly served the chair of the House Financial Services Committee, Consumer Financial Protection Bureau acting director Mick Mulvaney is continuing to put his stamp on how the regulator operates.

The CFPB issued another request for information (RFI); this time in connection with the bureau’s enforcement processes. The agency indicated it is seeking information to help assess the overall efficiency and effectiveness of its processes related to the enforcement of federal consumer financial law.

This is the third in a series of RFIs announced as part of Mulvaney’s call for evidence to ensure the bureau is fulfilling its proper and appropriate functions to best protect consumers.

“This RFI will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities,” the bureau said in a news release.

“The next RFI in the series will address the bureau’s supervisory processes, and will be issued next week,” the CFPB added.

Previously, the bureau announced that it was seeking feedback in connection with civil investigative demands (CIDs).

Meanwhile earlier this week, Mulvaney named Kirsten Sutton Mork chief of staff for the agency. Sutton Mork had been serving as staff director of the House Financial Services Committee under Chairman Jeb Hensarling.

“I am pleased to announce Ms. Sutton Mork as the new chief of staff at the Bureau of Consumer Financial Protection,” Mick Mulvaney said. “I worked with Kirsten during my tenure as a member on the House Financial Services Committee and can attest to her in-depth financial policy expertise, proven track record of developing and implementing strategic initiatives, and ability to manage a team.

“Kirsten brings with her more than a decade of invaluable experience that will advance the mission of the bureau and make it more efficient, effective and accountable,” Mulvaney added.

Sutton Mork’s tenure on Capitol Hill spans the financial crisis and post-crisis legislative response. She staffed Hensarling during House Financial Services Committee, House and conference committee consideration of the legislation that established the bureau, the Dodd-Frank Act.

The CFPB insisted Sutton Mork is intimately familiar with the bureau’s statutory mission and obligations. She was appointed deputy staff director to the House Financial Services Committee in 2013 and became staff director in early 2017.

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