WASHINGTON—CFPB Director Kathy Kraninger has sent a letter to Federal Communications Commission (FCC) Chairman Ajit Pai urging the FCC to expedite its declaratory ruling to allow financial institutions to contact consumers on matters related to the coronavirus pandemic during the national emergency.
In Kraninger's letter, she noted the CFPB's efforts to keep credit unions informed of relief options available to them, both due to government action and those made available by financial institutions.
"Despite our best efforts, we know we have not reached all consumers who need and would benefit from available assistance," Kraninger wrote. "Allowing financial institutions to make automated calls is one more way to maximize the outreach to ensure consumers receive important and timely information."