The Consumer Financial Protection Bureau published a notice this week in the Federal Register to collect comments on its request for approval of a consumer response intake form under the Paperwork Reduction Act (PRA).
The intake form is designed to help consumers submit comments, complaints and questions. The collection industry, based on the types of questions the CFPB states will be asked, expects the form to mostly be used for submitting consumer complaints. The form is an effort by the CFPB to streamline how it receives information from consumers.
The CFPB states that the form's questions will prompt respondents for a description of the complaint, important facts, the desired resolution, contact and account information, information about the institution they are filing a complaint against and any earlier action taken to attempt to resolve the complaint. Consumers will be able to submit the form in various ways, including electronically on the CFPB's website.
Approval of the existing streamlined process, according to the CFPB, will allow it to continue to efficiently implement several systems relating to consumer complaints and inquiry processing, referral and monitoring, through iterative testing and feedback collection.
The CFPB published a second notice requesting comments on a proposal to renew its existing generic clearance for its consumer complaint and information collection system.
A generic clearance is a special approval that allows the CFPB to use a streamlined procedure to gather information without having to go through the normal notice and comment process typically required under the PRA.