2.2: Rules, Orders & Guidance
Review the Bureau's processes for formulating and issuing rules, orders, and guidance implementing federal consumer financial
law.
Other Information:
Consistent with the Dodd-Frank Act, the Bureau will have the authority to prescribe rules, issue orders, and produce guidance
related to certain federal consumer financial laws that were within the authority of the Board, the OCC, the OTS, the FDIC,
the NCUA, the Federal Trade Commission (FTC), and the HUD. For example, the Bureau takes on all consumer protection functions
of the Secretary of the HUD relating to the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2601 et seq.). In addition,
the Bureau has new rulemaking authorities related to unfair, deceptive, and abusive acts or practices that are not related
to transferred functions. The OIG will review the Bureau's rulemaking processes to ensure compliance with the Dodd-Frank Act
as well as other applicable rulemaking standards. Further, consistent with the IG Act, we will review existing and proposed
Bureau-related legislation and regulations to assess their impact on the economy and efficiency of the Bureau's programs and
operations or the prevention and detection of fraud and abuse in Bureau programs and operations.
Indicator(s):
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