In a recent question and answer session, Marla Blow, the assistant director of the Consumer Financial Protection Bureau, said that the public comment to the CFPB was crucial in streamlining important and possibly overlapping regulations.
Blow, head of the CFPB’s Card and Payment Markets Group, will speak on Thursday at the ATM Industry Association conference in Texas. Before taking the position of assistant director at the CFPB, Blow worked in credit card management. Now, Blow is in charge of overseeing disclosures and regulations pertaining to the debit and credit card industry.
Blow said in an interview with ATM Marketplace that the agency is particularly interested in public comment on how to make regulations more effective.
“Where is the overlap?” Blow said, ATM Marketplace reports. “Where is the unnecessary duplication? What are the regulations that are pain points? Give us that feedback; put us in a position to do that streamlining effectively in ways that will make your business work more efficiently or be more resilient and long-lived.”
Blow also said that her experience in the credit card industry would allow her to better anticipate possible regulatory problems and to participate in debate surrounding potential regulations.
“The idea is that when a rule is being written or proposed, or the details are being contemplated, there is someone at the table who actually has some experience in the industry,” Blow said, according to ATM Marketplace.