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CFPB Opens Up Rule Petitions in Bid to Reduce Industry Influence, Bloomberg Law

February 16, 2022

In a bid to increase transparency, the Consumer Financial Protection Bureau (CFPB) announced this week that the public can now use an agency webpage for submitting petitions to create new rules, update existing ones, and repeal regulations.

Of counsel Eamonn Moran told Bloomberg Law that while the Administrative Procedures Act requires federal government agencies to accept rulemaking petitions from the public, and most do so, the “process is often opaque.”

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