CFPB

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.
  • June 12, 2023
    In new letters sent to the Senate Banking Committee and House Financial Services Committee ahead of the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress this week, the Consumer Bankers Association (CBA) outlined legislative and regulatory recommendations necessary to fulfill the Bureau’s responsibility of protecting consumers and supporting a competitive financial...
  • June 9, 2023
    Washington Post FactChecker Glenn Kessler today published a column debunking claims made by Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and President Joe Biden that consumers would save $9 billion as a result of a new proposal that would arbitrarily and uniformly reduce credit card late fees to $8. What the FactChecker is saying: Kessler found several inconsistencies with...
  • June 8, 2023
    Dear Chairman Brown and Ranking Member Scott The Consumer Bankers Association (CBA) submits the following comments for the hearing entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” We appreciate the committee’s continued oversight of the Consumer Financial Protection Bureau (CFPB or Bureau) and its activities. CBA is the voice of the retail banking industry...
  • June 8, 2023
    Dear Chairman McHenry and Ranking Member Waters: The Consumer Bankers Association (CBA) submits the following comments for the hearing entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” We appreciate the committee’s continued oversight of the Consumer Financial Protection Bureau (CFPB or Bureau) and its activities. CBA is the voice of the retail banking industry...
  • June 6, 2023
    Consumer Bankers Association (CBA) President and CEO Lindsey Johnson sat down with former journalist, IntraFi Chief Content Officer, and host of the popular banking podcast “Banking with Interest” Rob Blackwell for a candid conversation about the future of M&A, how proposals taking shape at the CFPB will affect the industry, and consumers and what steps Congress can take to ensure the CFPB...
  • June 5, 2023
    A new report from the Financial Health Network examining the overdraftmarketplace reinforced the impact of bank-led innovation and consumers’ need for the product as they contend with ongoing economic headwinds. Key Findings: According to the report, which surveyed consumers about their overdraft experiences in 2022 and compared these findings to prior years: Aggregate fees from overdraft dropped...
  • June 1, 2023
    The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting the potential harm fintech payment providers operating outside of the well-regulated and supervised banking system could cause consumers. The CFPB also issued a consumer advisory urging consumers to move funds stored on apps such as Venmo, PayPal, and CashApp, which may not be protected by insurance in the event of...
  • May 25, 2023
    The Consumer Financial Protection Bureau (CFPB) this week released a new report underscoring the significant savings bank-led overdraft innovation has delivered consumers. What They’re Saying: Driven by a desire to meet evolving consumer demand, a growing share of America’s leading banks have unveiled innovative overdraft solutions designed to expand choice, strengthen transparency and lower...
  • May 10, 2023
    Dear Chairman Womack and Ranking Member Hoyer: The Consumer Bankers Association (CBA) respectfully submits this letter for the subcommittee’s consideration of fiscal year 2024 Financial Services and General Government (FSGG) appropriations. CBA is the voice of the retail banking industry whose products and services provide access to credit to millions of consumers and small businesses. Our...
  • May 10, 2023
    On behalf of the Consumer Bankers Association (CBA), I write to express our support for S. 1362, the Transparency in CFPB Cost-Benefit Analysis Act. This bill is an important component of CFPB reform and will help ensure the Bureau’s policies are grounded in sound data and evidence. Cost-benefit analysis is an important tool for regulators to use to balance the costs of implementing and complying...

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