Just over two weeks into his role as acting director at the Consumer Financial Protection Bureau, David Uejio said in a blog post his immediate focus for the Division of Research, Markets and Regulations (RMR) is to “focus rulemaking on the pandemic response and to preserve, where possible, maximum policy flexibility for the president’s nominee once confirmed.”
Specifically, Uejio said the RMR should “explore options for preserving the status quo with respect to (qualified mortgage) and debt collection rules.”
As acting director, Uejio also announced an increased use of data collection when needed.
“Our work must be grounded in the best available data, market intelligence, and analysis. I expect us to make maximum use of the data available to us,” Uejio said.
He asked RMR to take the following immediate steps:
- Prepare an analysis on housing insecurity, including mortgage foreclosures, mobile home repossessions, and landlord-tenant evictions;
- Prepare an analysis of the most pressing consumer finance barriers to racial equity to inform research and rulemaking priorities;
- Explicitly include in policy proposals the racial equity impact of the policy intervention; and
- Resume data collections paused at the beginning of the pandemic, including Home Mortgage Disclosure Act quarterly reporting and the Credit Card Accountability, Responsibility and Disclosure Act data collection, as well as the previously completed data collection under section 1071 of the Dodd-Frank Act and the ongoing “PACE” data collection.
Read the complete post from Uejio here.
ACA International stands ready to work with the new administration and bureau leadership on behalf of members and the accounts receivable management industry.
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