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Acting Consumer Financial Protection Bureau (CFPB) Director Dave Uejio made his third stop in his tour to re-set priorities with each division of the agency. First, he shared a new direction with employees in the Supervision, Enforcement, and Fair Lending (SEFL) division. Then, he asked Research, Markets, and Regulations' (RMR) to explore options for preserving the status quo with respect to the debt collection rule. Yesterday he announced that he met with staff from the Division of Consumer Education and External Affairs (CEEA), and reinforced his priorities of supporting those affected by Covid-19, and addressing racial equity. One particular tool he intends to focus on is consumer complaints and said data shows that some companies have been lax in their response.
Last week insideARM published an analysis of the increase in complaints over the past year, finding the overwhelming increase was driven by credit reporting issues, many caused by identity theft.
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