Washington Report

Advocacy Updates from Washington D.C.

NAR Comments on CFPB Advisory Opinion Program

In response to the Consumer Financial Protection Bureau’s (CFPB’s) proposed advisory opinion (AO) program, NAR submitted a comment providing feedback that would better help businesses seek clarity on regulatory compliance obligations. The pilot and proposed program details are intended to address regulatory uncertainty, where AOs will be made public to ensure broad benefit of the Bureau’s analysis. AO requests will also inform the Bureau of outdated, unnecessary, or unduly burdensome regulations. NAR’s comment focused on how the proposed program could be made more transparent and useful, especially to small businesses and sole proprietors.

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