AFSA Submits FOIA Request to CFPB
The basic function of the Freedom of Information Act (FOIA) is to ensure a transparent and accountable government, which is vital to the functioning of a democratic society. Since 1967 FOIA has provided the public the right to request access records from any federal agency. Federal agencies are required to disclose any information requested under the FOIA, unless it falls under one of nine exemptions that protect interests such as personal privacy, national security or law enforcement.
Over the years, AFSA has submitted numerous requests to multiple federal agencies under FOIA. Earlier this month, AFSA, in conjunction with other trades, submitted FOIA requests to the Consumer Financial Protection Bureau (CFPB) asking for information on the Bureau’s Dodd-Frank Section 1071 rulemaking on small-business lending. On our own, we have asked the CFPB about the definition of abusive, its interactions with state regulators and attorneys general, supervision of nonbanks, repossession, and rate caps.
We look forward to sharing the Bureau’s responses with you.
May 27th, 2022 by Dan Bucherer