The CFPB has requested comments on its five year strategic plan. The strategic plan sets forth four strategic goals and eleven desired outcomes, as well as how the CFPB will measure its performance for each defined outcome.
The desired outcomes include, among other things, creating, adopting, and administering regulation to promote a safe and understandable consumer financial marketplace; collecting, monitoring, responding to, and sharing data associated with consumer complaints and inquires about consumer financial products or services; and articulating a research driven, evidence-based perspective on consumer financial markets and consumer behaviors to identify areas where CFPB intervention may improve market outcomes.
Each defined desired outcome is followed by performance measures the CFPB will use to assess its progress in reaching the outcome. For example, the percent of regulatory targets met and the percent of on-schedule regulation reviews will be used as measurements of reaching the desired outcome of a safe and understandable consumer financial marketplace.
Comments are due by October 25, 2012.
Read the full strategic plan.