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TCH Requests Extension of the Section 1033 Proposed Rule’s Comment Period

The Clearing House Association, L.L.C. (TCH) joined with 14 other bank and nonbank trade associations requesting that the Consumer Financial Protection Bureau (CFPB) extend the comment period of its notice of proposed rulemaking (NPR) under Section 1033 of the Dodd-Frank Act until 90 days after its publication in the Federal Register.  Comments on the NPR are currently due December 29, 2023.  The letter notes that CFPB’s prior comment periods regarding Section 1033 were at least 90 days and that the proposed rule’s complexity warrants at least this much time for the public to develop thoughtful responses.

To read the full comment letter click here.