CFPB Withdraws Proposal to Survey Consumers on Debt Collection

The Consumer Financial Protection Bureau yesterday withdrew its request for regulatory approval of a planned survey on consumer understanding of debt collection disclosures. The action comes after the American Bankers Association urged the CFPB to do so, citing CFPB Acting Director Mick Mulvaney’s announcement last month freezing all pending regulatory action. The bureau’s planned survey was a precursor to a rulemaking on debt collection.

In August, ABA opposed the CFPB’s request for approval of the survey because the agency had sought to test materials and disclosures that were not made available for public comment, as required by the Paperwork Reduction Act. For more information, contact ABA’s Diana Banks.

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