CFPB Seeks Feedback on Sample Periodic Statements during Bankruptcy

April 26, 2016

On Tuesday, April 26, 2016, the CFPB released the results of a report conducted by Fors Marsh Group, titled: “Testing of Bankruptcy Periodic Statement Forms for Mortgage Servicing.” The Bureau commissioned the survey to test sample bankruptcy-specific periodic statement forms. The forms were developed using suggestions collected during the comment period for the proposed amendments to Regulation X and Regulation Z in December of 2014. Consisting of three separate rounds, the testing examined the usability and clarity of these forms to ensure the information is communicated to consumers in a user-friendly way.

The CFPB has reopened the comment period until May 26, 2016 to seek feedback specifically on the results of the report.