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Enactment of the Dodd-Frank Act created the Consumer Financial Protection Bureau, an agency charged with carrying out federal consumer financial laws. We are focused on retail banking products and services, making CBA the industry resource on the CFPB. Our insights and analysis on CFPB-related issues, along with the latest news and information, provides our members with the necessary tools to navigate this new regulatory environment.
- March 15, 2013CFPB Director Corday's Confirmation Hearing On March 12, 2013, the Senate Banking Committee met to consider the nominations of Mary Jo White for Chairman of the Securities and Exchange Commission (“SEC”) and Richard Cordray as Director of the Consumer Financial Protection Bureau (“CFPB”). Ms. White seemed to garner broad support from the Committee, and while many Members on the Left pledged their...
- March 11, 2013Phoenix, AZ (March 11, 2013) – Please attribute this statement to CBA President and CEO, Richard Hunt: "CBA continues to call for changes to the CFPB structure, including from a sole director to a commission, so it endures the test of time, not just the next election. This is the preferred leadership structure at independent regulatory agencies since the OCC was created in 1863, as it provides...March 8, 2013Packing for Phoenix - CBA LIVE My shoes are shined. My shirts are folded. But there is no tie in my bag for Phoenix. Remember we are business casual, and as a result, ties are banned from CBA LIVE and will be confiscated. Team CBA looks forward to welcoming you and more than 1,000 attendees from 71 national and regional banks to “The Future of Money.” The United States banking system is the...March 8, 2013Cordray Confirmation Hearing Scheduled for Next Week As mentioned above, the Senate will hold a confirmation hearing for Richard Cordray as CFPB Director on Tuesday, March 12, 2013. On Friday, February 1, 2013, 43 Republican senators sent a letter to President Obama reconfirming their commitment to vote down Cordray or any other nominee for Director of the CFPB. The senators indicated any nominee...March 1, 2013March 1, 2013CBA Submits Comment on Additional QM Proposal On Monday, February 25, 2013, CBA filed a comment letter with the CFPB in response to the QM proposal the agency issued last month, in connection with the final QM rules that were also issued at that time. Highlights of the letter are as follows: In our earlier comment letter in response to the initial QM proposal issued in 2011, CBA opposed the...February 28, 2013