; and (2) in section 1061(b)(5)(E)— (A) by striking affords to the— and all that follows through (i) Federal Trade Commission and inserting affords to the Federal Trade Commission ; (B) by striking ; or and inserting a period; and (C) by striking clause (ii). B Administrative Enhancements 721. Advisory opinions Section 1022(b) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5512(b) ), as amended by section 717, is further amended by adding at the end the following: (7) Advisory opinions (A) Establishing procedures (i) In general The Director shall establish a procedure and, as necessary, promulgate rules to provide written opinions in response to inquiries concerning the conformance of specific conduct with Federal consumer financial law. In establishing the procedure, the Director shall consult with the prudential regulators and such other Federal departments and agencies as the Director determines appropriate, and obtain the views of all interested persons through a public notice and comment period. (ii) Scope of request A request for an opinion under this paragraph must relate to specific proposed or prospective conduct by a covered person contemplating the proposed or prospective conduct. (iii) Submission A request for an opinion under this paragraph may be submitted to the Director either by or on behalf of a covered person. (iv) Right to withdraw inquiry Any inquiry under this paragraph may be withdrawn at any time prior to the Director issuing an opinion in response to such inquiry, and any opinion based on an inquiry that has been withdrawn shall have no force or effect. (B) Issuance of opinions (i) In general The Director shall, within 90 days of receiving the request for an opinion under this paragraph, either— (I) issue an opinion stating whether the described conduct would violate Federal consumer financial law; (II) if permissible under clause (iii), deny the request