This story appeared in Bank Digest.
The Consumer Financial Protection Bureau has adopted an updated policy on ex parte presentations in rulemaking proceedings, in which members of the public communicate directly with bureau staff on a proposed rule rather than posting written comments on the public rulemaking docket. The original policy was posted on the CFPB's website on Aug. 16, 2011 (see 2011 No. 3382).
According to a bureau blog post, the updated policy contains two key updates: (1) an exemption from disclosure requirements for state entities similar to the existing exemption for federal agencies; and (2) certain procedural improvements.
According to the CFPB, the substantive revisions providing the exemption for state entities apply only to informal rulemaking proceedings subject to the policy where the bureau has published general notice of proposed rulemaking at least 30 days after publication of the updated policy in the Federal Register. All other revisions apply 30 days after the date of publication of the policy in the Federal Register, to all CFPB informal rulemaking proceedings subject to the policy, including rulemakings that have not been finalized.