Third, we plan to conduct periodic sufficiency reviews of consumer regulations and policies. These reviews will consider emerging trends in consumer financial services, whether existing regulations are adequate for protecting consumers, and will identify those areas in which new consumer protection measures are needed.
We will develop a process that includes regional public hearings in Washington, D.C. and at several of the Federal Reserve Banks. The hearings will be held every two years to gather information on consumer issues and risks – similar to the process required by the Credit CARD Act of 2009.