CFPB to Accept Public Petitions for Rulemaking

The CFPB is now accepting petitions for agency action submitted directly by members of the American public, according to a press release and a new portal that was opened last week. In support of this change, the Bureau cited to the U.S. Constitution's guarantee of the public's right to petition the government. This initiative represents the latest step by the CFPB in pursuit of its agenda to increase consumer input into its decisions and the transparency of its decision-making.

Many have noted that this action acts as a double-edged sword in the pursuit of greater consumer input and transparency. While the reform increases consumers' ability to be heard by the agency, it is also intended by the CFPB to impact the ability of former government employees, lawyers, and lobbyists—as well as the organizations that hire them—to influence the agency.

”Americans should be able to easily exercise their Constitutional rights without hiring a high-priced lawyer or lobbyist,” said CFPB Director Rohit Chopra. “Our new program will broaden access to the agency’s rulemaking process.”

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