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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.
- May 14, 2018May 14, 2018 VIA EMAIL AND COURIER Monica Jackson Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street NW Washington, DC 20552 Re: Request for Information Regarding Enforcement Processes, Docket No. CFPB-2018-0003 Dear Ms. Jackson, The Financial Services Roundtable,  Consumer Bankers Association,  and Consumer Mortgage Coalition  (collectively, the...
- May 14, 2018WASHINGTON – The Consumer Bankers Association, Consumer Mortgage Coalition and Financial Services Roundtable today submitted comments to the Bureau of Consumer Financial Protection’s request for information on the effectiveness and efficiency of the Bureau’s enforcement of federal consumer financial laws. The request also asked for information detailing any appropriate changes to the process. “...
- May 11, 2018DRIVING THE CONVERSATION Rumor Mill Churns: McWatters as Bureau Director? – There is plenty of buzz in D.C. surrounding President Trump’s potential nomination of National Credit Union Administration Board Chair Mark McWatters as the next Director of the Bureau of Consumer Financial Protection (Bureau). We have had conversations with McWatters, as well as many other potential candidates for the...
- May 8, 2018WASHINGTON — The House on Tuesday repealed controversial 2013 guidance by the Consumer Financial Protection Bureau that allowed it to go after indirect auto lenders. The vote was a big win for Republicans trying to rein in the agency. Read more .
- May 7, 2018On Monday, May 7, 2018, CBA and the Financial Services Roundtable (FSR) filed comments on the RFI regarding the Bureau Rules of Practice for Adjudication Proceedings. The associations stressed the importance of expeditious resolution and urged the Bureau to look to the Federal Rules of Civil Procedure (FRCP) and the Federal Rules of Evidence (FRE) as benchmarks for specific timelines, breadth of...May 7, 2018May 4, 2018 Consumer Financial Protection Bureau Attention: Monica Jackson Office of the Executive Secretary 1700 G Street, NW Washington, DC 20552 Re: Docket No. CFPB-2018-0002; Request for Information Regarding Bureau Rules of Practice for Adjudication Proceedings. Dear Ms. Jackson: The Financial Services Roundtable1 (“FSR”) and the Consumer Bankers Association2 (“CBA”) appreciate the...May 7, 2018WASHINGTON – The Consumer Bankers Association (CBA) and Financial Services Roundtable (FSR) today submitted comments to the Bureau of Consumer Financial Protection’s request for information on administrative adjudications. The comments stressed the importance of expeditious resolution and urged the Bureau to look to the Federal Rules of Civil Procedure (FRCP) and the Federal Rules of Evidence (...May 4, 2018D.C. MEMORIAL DAY SHOT CLOCK What’s on the D.C. Docket ahead of Memorial Day? – Here is your cheat sheet to guide you through the month: Monday RFI Deadline –The BCFP RFI process continues with comments on administrative adjudications (May 7), enforcement processes (May 14), supervision processes (May 21) and external engagements (May 28) due this month. CBA will be submitting comment on these...April 27, 2018Washington – The Consumer Bankers Association (CBA) and Financial Services Roundtable (FSR) sent a joint letter calling for the Bureau of Consumer Financial Protection (BCFP) to reform its civil investigative demand (CID) processes to create a fairer and less burdensome process. “At times, the Bureau has wielded its considerable investigation powers without first considering alternative and more...April 27, 2018REGULATORY ROUNDUP Mulvaney Plans to Drop Public Complaints Portal – CBA has long advocated for unverified contents of the complaint portal to no longer be made public and this week the Bureau of Consumer Financial Protection’s Acting Director Mick Mulvaney acted on this request. While we fully support the Bureau fulfilling its important, Congressionally-mandated mission of compiling complaints,...