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CFPB's New Acting Director Signals Significant Shifts in Agency Direction, Policies, and Priorities | Morgan Lewis

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Shortly after the inauguration of President Joe Biden on January 20, former Consumer Financial Protection Bureau (CFPB or Bureau) Director Kathleen Kraninger submitted her resignation. Soon after that, the president announced that he had appointed David Uejio, a veteran CFPB official who most recently served as the Bureau’s chief strategy officer, to serve as acting director until the Senate confirms Rohit Chopra, his nominee for director.
In the short time since the inauguration, the Bureau has released guidance to assist military families manage their finances during and after the pandemic; to individuals choosing or being forced, due to the pandemic, to retire; and on current loan and housing protection measures. In addition, Acting Director Uejio has been meeting with the staff of the Bureau’s divisions, and has both conveyed his broad vision for the Bureau in the coming months as well as directed key Bur ....

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Acting Director Uejio outlines regulatory priorities and seeks options for putting QM and debt collection rules on hold | Ballard Spahr LLP

In
a blog post published at the end of last week, Acting CFPB Director Uejio shared with the public the statement that he sent to the staff of the Bureau’s Division of Research, Markets, and Regulations (RMR) outlining his regulatory priorities and directing staff to “explore options for preserving the status quo with respect to QM and debt collection rules.”
Following on the heels of
a previous blog post in which Mr. Uejio publicly shared his statement to the staff of the Bureau’s Division of Supervision, Enforcement, and Fair Lending, the new blog post reinforces Mr. Uejio’s intention to make significant changes at the Bureau even before Rohit Chopra, President Biden’s nominee for CFPB Director, is confirmed by the Senate and sworn in. ....

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