Rules and policy

The CFPB implements and enforces federal consumer financial laws to ensure that all consumers have access to markets for consumer financial products and services that are fair, transparent, and competitive.

The The CFPB’s rulemaking process typically starts with research and is further informed by public input, including field hearings, consumer and industry roundtables, advisory bodies, and in some cases, small business review panels. We carefully assess the benefits and costs of the regulations we are considering for consumers and financial institutions. Proposed rules are generally published to give industry, consumers, and other external stakeholders an opportunity to comment on their potential impact. Once a regulation is in place, we provide support and resources to help stakeholders understand and comply with the rule.

CFPB aims to makes rules governing consumer finance markets more effective and to create new rules when warranted. Explore the CFPB’s regulatory agenda, rules currently in development, and final rules. You can also learn about how the CFPB works with the Small Business Review Panel on rules that could have significant economic impacts on small entities.

The CFPB publishes notices requesting public comment on a variety of documents, including proposed rules and requests for information. You don’t have to be an expert or a lawyer to give comments. We invite everyone to share their views.

Encouraging consumer-beneficial competition is one of our key priorities. Our mission is to promote competition in financial services.

The CFPB responds to petitions from interested persons for the issuance, amendment, or repeal of a CFPB rule, as required by the Administrative Procedure Act.

The CFPB convenes four independent groups for formal input on everything from consumer engagement, to policy development, to research.

We work with community banks and credit unions to ensure consumers can choose among a variety of products, services, and financial relationships. We especially consider how our rules affect community banks and credit unions.

The Company may, from time to time, work in coordination with independent, third‑party attorneys, law firms, or legal professionals (collectively, “Affiliated Attorneys”) for the purpose of providing legal representation, advisory services, document preparation, filings, compliance assistance, and other services related to a consumer/company.

Affiliated Attorneys are not employees of the Company. They act as independent professionals who are duly licensed and authorized to practice law in their respective jurisdictions.

Affiliated Attorneys may, as part of their authorized scope:

• Initiate, manage, and complete legal and administrative processes related to your case or request;
• Communicate directly with you regarding documentation, compliance requirements, deadlines, and payment obligations;
• Coordinate with governmental agencies, courts, or third parties as required by law;
• Perform procedural and operational actions necessary to advance your matter, consistent with applicable laws and professional standards.

Notice of Conditional Registration and Statutory Disposition

Upon initiation of an unclaimed property registration file, the claimant acknowledges and agrees that the registration process is subject to strict administrative timelines and statutory compliance requirements.

Once a registration file is formally opened, the claimant is granted a maximum period of seventy-two (72) business hours to complete all required registration steps, submit requested documentation, and engage in direct communication with the assigned case representative. This timeframe is mandatory and is intended to preserve the validity, security, and recoverability of the unclaimed property.

Failure to Complete Registration

If the registration process is not completed within the prescribed 72-business-hour period, or if the claimant fails to respond, verify, or cooperate as required, the file may be deemed administratively unresolved. In such cases:

• The registration file may be closed without further notice.
   
• The unclaimed property may lose its provisional claimant status.
   
• The property may be reclassified in accordance with applicable public finance and administrative provisions.
   

Disposition as Public Funding

Unresolved or abandoned unclaimed property files may, pursuant to applicable statutes and municipal financial regulations, be transferred to public funding accounts designated for the benefit of the City of Washington, D.C. These funds may be allocated to support city operations, infrastructure, public services, and community programs.

Once such a reclassification or transfer occurs, recovery may be restricted, delayed, or rendered unavailable, and additional legal or administrative procedures may be required to reestablish eligibility.

Urgency and Claimant Responsibility

Initiating the registration process constitutes acknowledgment that timely action is critical. Claimants are solely responsible for ensuring that all required steps are completed within the allotted timeframe. Delays, inactivity, or failure to comply may result in permanent forfeiture of claimant priority.

To protect potential entitlement and avoid statutory disposition, claimants are strongly advised to complete registration promptly upon initiation and maintain active communication with assigned representatives throughout the process.

No Automatic Extensions

Extensions, reinstatements, or exceptions are not guaranteed and may only be granted under limited circumstances at the sole discretion of the administering authority and in compliance with regulatory guidelines.

In the event that a claimant initiates a registration or recovery process but fails to complete, abandons, or otherwise leaves the case unresolved, including but not limited to discontinuing communication, ceasing required participation, or leaving the file in an incomplete or inactive status, the administering authority reserves the full right to take appropriate administrative action.

Such action may include, without limitation:

• Disregarding or canceling any pending, provisional, or previously eligible refunds, reimbursements, or recoverable amounts;
   
• Terminating the registration or claim without further notice;
   
• Reclassifying the file as inactive, non-compliant, or abandoned.
   

Additionally, refund eligibility may be revoked if the claimant:

• Fails to follow prescribed instructions or procedural requirements;
   
• Engages in unauthorized actions outside the scope of assigned processes;
   
• Attempts to bypass, alter, or interfere with established administrative workflows;
   
• Does not respond to formal requests for documentation, verification, or clarification within required timeframes.
   

Claimant Responsibility and Compliance Requirement

All registration and recovery processes must be conducted strictly in accordance with the instructions and procedures provided by the administering authority. Claimants acknowledge that partial participation, inconsistent engagement, or unilateral actions not expressly authorized may compromise the integrity of the case and result in loss of eligibility for any refunds or recoverable property.

Once a file is deemed non-compliant or abandoned, any refundable amounts associated with the case may be permanently forfeited, and reinstatement is not guaranteed.