ACA Submits Comments Opposing CFPB's Request to Collect Data Under Streamlined Process

In an effort to ensure the Consumer Financial Protection Bureau does not skirt its important obligations under the Paperwork Reduction Act, ACA International filed comments objecting to the bureau’s request to obtain special approval, called generic clearance, to use a streamlined procedure that would allow it to gather certain data for up to three years without having to go through the normal notice and comment process.

According to the bureau’s request to the Office of Management and Budget, the underlying purpose is to collect certain data “to allow the bureau to better inform and advance scientific understanding of consumer credit markets and household finance.”

In its comments, ACA argues that the core of the PRA—agency responsibility and accountability—cannot  be circumvented by the bureau simply for the sake of efficiency. In addition, guidance from the Office of Budget and Management makes clear that streamlined approval is warranted only for low-burden collections that do not raise substantive or policy issues.

Given the broadly worded request, ACA asserts that it is clear that the bureau intends to collect data that will in fact raise substantive or policy issues, regardless of how the it claims the data will ultimately be used. As a result, the bureau’s request simply does not merit the streamlined process which will improperly deprive stakeholders of important opportunities to meaningfully weigh in on the burdens that the proposed collections will pose.

Although the bureau’s data collection request is not specific to debt collection, ACA’s comments in this proceeding are part of its ongoing efforts to ensure that the bureau operates transparently, remains accountable and fosters collaboration with stakeholders.