CFPB Acting Director Asks Markets Group to Look into Pausing Debt Collection Rule

Acting CFPB Director Dave Uejio is making the rounds. Last week he shared a new direction with employees in the Supervision, Enforcement, and Fair Lending (SEFL) division. Yesterday, it was Research, Markets, and Regulations' (RMR) turn.  Last year, RMR released the seven-years-in-the-making Final Debt Collection Rule, which takes effect November 30, 2021. Uejio asked the group to explore options for preserving the status quo with respect to this rule, in order to provide the greatest possible flexibility for the incoming Director. 

Here is the full text of his letter to this group:

I want to convey my broad vision for the Division of Research, Markets, and Regulations (RMR) in the coming months, as I did for SEFL last week.