Consumer Finance Protection Bureau Issues FOIA Rule

Information they receive subject to FOIA requests

On March 18th, the Consumer Financial Protection Bureau's final rule on Disclosure of Records and Information ("the Rule") became effective.

The Rule establishes procedures for obtaining information from the CFPB under the Federal Freedom of Information Act ("FOIA"), the Privacy Act of 1974 ("the Privacy Act"), and in legal proceedings. It also establishes the CFPB's rules for treatment and disclosure of confidential consumer complaint, investigative and supervisory information, as well as CFPB information that may be exempt from disclosure under 522(b) of FOIA (which exempts from its scope, inter alia, confidential trade secrets and other confidential commercial or financial information).