CFPB Seeks Comment on New Models, Forms, Disclosures, Etc.
November 7, 2011
Last week, the Consumer Financial Protection Bureau again asked for industry and public input this time as it works to collect information for the development and testing of new and existing model forms, disclosures, tools and similar related materials. The core objective of the data collection is to help identify, evaluate, and refine specific features of the content or design of the model forms, disclosures, tools, and other similar related materials to maximize communication effectiveness while minimizing compliance burden, the bureau said in its notice in the Nov. 2, 2011, Federal Register. The CFPB plans to gather qualitative data through a variety of methods to inform its staffs design, development and implementation of the model forms, using an iterative process to improve the draft forms