This past Friday, Rachel Rodman, a lawyer at the CFPB, described the CFPB’s new amicus brief policy during a presentation she made at the ABA Annual Meeting in Chicago.
During the Q&A segment, I urged the Bureau to do two additional things which might create more transparency and help to allay industry suspicion that the CFPB will always align itself against the industry. First, I suggested that the Bureau post on its website any request that the Bureau receives. Second, I suggested that before deciding whether to submit a brief, the Bureau should give all parties to the lawsuit and other interested persons the opportunity to urge the Bureau to support a different party or to stay out of the lawsuit altogether.
Ms. Rodman indicated that my idea is interesting and that she would discuss it with others at the Bureau.