CFPB details plan to reconsider and potentially eliminate existing rules

The CFPB is already in the midst of enacting changes to some its rules, namely the requirements for the data collection and reporting stipulated by HMDA and the bureau’s enforcement practices, but those may not be the only rule changes coming from the CFPB. The bureau announced Monday that it plans to “periodically” review its regulations and may amend or even abolish existing rules.