On July 21, the CFPB published a notice in the Federal Register withdrawing its direct final rule that would have rescinded procedures requiring state officials to notify the Bureau when taking action to enforce the CFPA. As previously covered by InfoBytes, in May, the CFPB published a notice rescinding its requirement for state officials to notify the Bureau when taking action to enforce the CFPA. As a result of the July rescission of the rule, States will be required to notify the Bureau when they enforce the CFPA, as was previously the case. The direct final rule stated it would be withdrawn if significant adverse comments were submitted by June 20. The Bureau noted that since it did receive such comments, it decided to withdraw the direct final rule effective July 21 and will address the comments during the next rulemaking process.
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