The Consumer Financial Protection Bureau (CFPB) plans to eliminate the "CFPB.003 Non-Depository Institution Supervision Database" system of records. This system's records have been incorporated into the modified "CFPB.002 Supervision and Examination Records" to create a single system for supervisory information. The change aligns with the Privacy Act of 1974 and Office of Management and Budget guidelines, streamlining records management. Public comments on this proposal are accepted until February 3, 2025, with the rescindment set to take effect on February 12, 2025, barring any contrary comments.
Simple Explanation
The Consumer Financial Protection Bureau wants to make their record-keeping simpler by combining two record systems into one. They are inviting people to share their thoughts about this change before it happens in February 2025.