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.
  • April 6, 2018
    April 6, 2018 The Honorable Jeb Hensarling The Honorable Maxine Waters Chairman Ranking Member Committee on Financial Services Committee on Financial Services U.S. House of Representatives U.S. House of Representatives 2129 Rayburn House Office Building 4340 O’Neill House Office Building Washington, D.C. 20515 Washington, D.C. 20151 Dear Chairman Hensarling and Ranking Member Waters: The Consumer...
  • April 6, 2018
    April 6, 2018 The Honorable Mike Crapo The Honorable Sherrod Brown Chairman Ranking Member Committee on Banking, Housing Committee on Banking, Housing & Urban Affairs & Urban Affairs U.S. Senate U.S. Senate 534 Dirksen Office Building 534 Dirksen Office Building Washington, D.C. 20510 Washington, D.C. 20510 Dear Chairman Crapo and Ranking Member Brown: The Consumer Bankers Association (...
  • April 6, 2018
    CFPB UPDATE Acting CFPB Director Mulvaney Seeks Changes to Agency – In the CFPB’s semi-annual report released on Monday, Acting CFPB Director Mick Mulvaney called on Congress to establish “meaningful accountability” at the CFPB by enacting four key changes: Fund the Bureau through Congressional appropriations. [CBA Note: Currently, under Dodd-Frank, the CFPB receives its funding directly from the...
  • April 3, 2018
    The Consumer Financial Protection Bureau released its annual report on Monday, and it includes four legislative policy recommendations that would erode the agency’s independence and make it more beholden to political institutions. First, Acting Director Mick Mulvaney is recommending that Congress appropriate the Bureau’s funding rather than the Federal Reserve. Second, he seeks legislative...
  • April 3, 2018
    WASHINGTON — In his first report to Congress as the acting director of the Consumer Financial Protection Bureau, Mick Mulvaney called on lawmakers on Monday to cripple the agency that he has been temporarily tasked with overseeing. Mr. Mulvaney, a longtime and unapologetic critic of the financial crisis-era bureau, has spent the last several months freezing its enforcement activities, dropping...
  • April 2, 2018
    WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement in response to the release of the CFPB’s Semi-Annual Report, which includes recommended statutory changes to the CFPB by Acting Director Mick Mulvaney: “We appreciate Acting CFPB Director Mick Mulvaney’s goal of bringing greater accountability to the Bureau. We look forward to hearing...
  • March 30, 2018
    THIS WEEK: Our guest author is Steve Zeisel, CBA's Executive Vice President and General Counsel CRA Rulemaking on the Horizon – For those hoping to see revisions to the Community Reinvestment Act (CRA) regulations, the next few weeks should be very telling. Two important documents are expected to emerge almost simultaneously. Treasury will issue its Report on CRA reform, and the OCC – possibly...
  • March 28, 2018
    On Wednesday, March 28, 2018, the CFPB released its Request for Information (RFI) on the Bureau’s guidance and information support. This is the tenth in the series of RFIs aimed to ensure the Bureau is fulfilling its proper and appropriate functions, and will focus on the Bureau’s guidance materials and activities. The next RFI in this series will be released next week, and will focus on consumer...
  • March 27, 2018
    Effective compliance metrics support compliance efforts by providing a window into an organization’s compliance risks and controls. It is vital that organizations evaluate, integrate, and (when valuable) automate metrics that provide insights into their compliance efforts in order to more effectively prevent, detect, and respond to current and future compliance risks. Such metrics can help...
  • March 23, 2018
    On Wednesday, March 14, 2018, the CFPB issued its Request for Information (RFI) on the Bureau’s adopted regulations and new rulemaking authorities. This is the eighth in a series of RFIs announced as part of Acting Director Mick Mulvaney’s call for evidence to ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers. The next RFI in the series will address...

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