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 13, 2018
    COMMISSION DRIVES CFPB CONVERSATION Mulvaney Backs CFPB Commission – In his first appearance before Congress, Acting CFPB Director Mick Mulvaney supported a CBA-backed plan to establish a commission at the CFPB . This is in addition to vocal support from both Republican and Democrat Members of Congress. Hearing Tidbits – Here are a few key takeaways from Acting Director Muvlaney’s Testimonies:...
  • April 11, 2018
    Mick Mulvaney, a longtime CFPB critic who has taken steps to overhaul the bureau since assuming his post in November, said moving to a bipartisan commission from a single director would prevent “wild swings” in rules and policies that accompany changes in administrations. “We need to have a more down-the-middle approach,” Mr. Mulvaney said while giving a semiannual report on the CFPB before the...
  • April 9, 2018
    The Honorable Dennis Ross 436 Cannon House Office Building Washington, DC 20515 The Honorable Kyrsten Sinema 1725 Longworth House Office Building Washington, DC 20515 The Honorable David Scott 225 Cannon House Office Building Washington, DC 20515 The Honorable Ann Wagner 435 Cannon House Office Building Washington, DC 20515 Dear Representatives Ross, Sinema, Scott, and Wagner: The undersigned...
  • April 9, 2018
    WASHINGTON – The Consumer Bankers Association (CBA) submitted comments to the House Financial Services Committee and the Senate Banking Committee in advance of hearings on the semi-annual report from Consumer Financial Protection Bureau (CFPB) Acting Director Mick Mulvaney. “CBA supports Acting Director Mick Mulvaney’s goal of bringing greater accountability to the agency. It is crucial that...
  • 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 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 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...

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