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Checking Account Disclosures
CBA believes that making banking functions transparent and upfront to consumers is a vital part of the bank-consumer partnership. We remain concerned about legislation or regulation that may go too far and actually cause consumers more financial harm than good. For example, a prohibition on overdraft protection programs, or rules so onerous that they act as de facto restrictions, could hurt consumers more than benefit them. CBA stresses improved information to consumers and better financial education.
- April 11, 2014Chairman Threatens CFPB Subpoena for Discrimination Investigation On Thursday, April 10, 2014, Chairman of the House Financial Services Subcommittee on Oversight and Investigation Patrick McHenry, sent a letter to CFPB Director Cordray informing him of the Committee’s plans to hold additional hearings on allegations of discrimination at the CFPB. Rep. McHenry cautioned that should Director...