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Home » Store » News » Industry Calls for Rulemaking to Clarify the Role of Guidance

Industry Calls for Rulemaking to Clarify the Role of Guidance

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Industry groups last week petitioned the CFPB to issue formal rules on the role of supervisory guidance. The Bank Policy Institute and the American Bankers Association urged the bureau to codify its recent statement clarifying the role of supervisory guidance as a formal rulemaking under the Administrative Procedure Act. The CFPB joined other federal regulators in issuing a statement clarifying that supervisory guidance does not have the force and effect of law ...
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