Consumer Financial Protection Bureau

Groups Urge CFPB to Protect Consumers and Abandon the Proposed Advisory Opinion Program

CFA joined national groups in submitting these comments in response to the Consumer Financial Protection Bureau’s (CFPB) request for comments on the proposed Advisory Opinion Program. These groups urged the CFPB to abandon the proposal as it would harm consumers by creating a one-sided avenue for industry to seek interpretations of the law. The proposed program will divert time and resources from consumer protection and risks creating a cluttered regulatory landscape for regulated entities and courts.