Application and new era of …

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Rohit Chopra, Director of the Consumer Financial Protection Bureau, New Leadership Role and Approach to Financial Services Entity Regulation Highlighted at Senate Banking Committee Hearing , housing and urban affairs, “A New Era for Consumer Protection: The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress», October 28.

In a letter to the Senate committee, ACA International has offered the office its full support whenever it has questions or concerns regarding an industry practice.

“To this end, we ask that the ACA be given the opportunity to weigh in and provide another perspective when debt collection issues arise,” CEO Mark Neeb said in the letter. “If there are bad actors who engage in activities that harm consumers, the ACA is eager to support all efforts to eliminate these bad actors. On several occasions, the ACA has applauded the CFPB when it used its resources to eliminate criminal actors, masquerading as participants in the debt collection industry. We will continue to do so. “

As Chopra begins her job as head of the office, the ACA urges the CFPB to seek input from all stakeholders and plans to continue her engagement to resolve the unintended compliance complexities associated with Reg F.

“ACA members work with consumers to help them deal with their unique financial situation to remedy and improve it. ACA supports CFPB’s mission to ensure that markets for consumer financial products and services operate in a fair, transparent and competitive manner, ”said Neeb.

Chopra also testified at the October 27 House Financial Services Committee hearing, which focused on the CFPB’s semi-annual report and Chopra’s leadership plans, ACA previously reported.

After last week’s hearing, CFPB announced that Chopra had selected an Obama-era Justice Department official Eric Halperin lead the execution division of the office and Lorelei Salas, the former commissioner of the New York consumer protection agency, to lead oversight, according to a Press release.

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Related content from ACA International:

House committee testimony provides insight into Chopra’s leadership at CFPB


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