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Fair Lending/Responsible Banking
Fair lending principles are embraced by CBA members. Regulatory enforcement, however, is an increasingly complex area of compliance, and has become even more challenging with the intense search at the state and federal levels for 'predatory lending' practices. To encourage self-evaluation, CBA helped establish a privilege for self-testing for fair lending compliance. CBA also is responding to new fair lending guidelines and protecting banks from unnecessary and burdensome small business data collection.
- February 6, 2015Wennes Rolls Out CBA's 2015 Legislative and Regulatory Agenda CBA's Board of Directors Chairman Tim Wennes unveiled our 2015 legislative and regulatory priorities to the media on February 4, 2015 at CBA's world headquarters. Tim covered the state of the retail banking industry, the depth and impact of our member banks on the economy, and the health of small business lending. I discussed our push...
- January 28, 2015The Consumer Bankers Association (CBA) and AOL Inc. (AOL) monthly Finance Optimism Index rose 2.2 points month over month to end 2014 at 0.0. Together with the CBA, AOL has been conducting research to better understand consumer attitudes about their finances. Throughout the year the Index has fluctuated across positive and negative territory, mainly staying in the red before trending upward since...
- January 22, 2015Introduction Loan sales can significantly benefit banks and other financial institutions, whether these organizations want to bolster their income by buying portfolios or free themselves up to issue more credit by selling them. However, sellers will need to be familiar with the current compliance environment, which is intricate and constantly evolving. Sales that fail to address and successfully...
- October 5, 2014October 3, 2014September 30, 2014September 26, 2014CFPB Announces Project Catalyst Pilot On Thursday, September 25, 2014, the CFPB announced a research pilot titled Project Catalyst to examine the effectiveness of early intervention credit counseling for consumers who are at risk of default on their credit card debt. "Managing credit card debt can be stressful for consumers and will affect their ability to access credit in the future," said CFPB...September 19, 2014CFPB Field Hearing On Auto Finance The CFPB hosted a field hearing on Thursday, September 18, 2014, in Indianapolis, to address the auto finance market and proposed federal oversight of larger nonbank auto finance firms. It also released a Supervisory Highlights report , outlining the CFPB's investigation of auto lending discrimination over the last two years and published a long-awaited white...August 29, 2014Consumer Finance Optimism Drops in July The CBA/AOL monthly Finance Optimism Index dropped back into negative territory to -3.0 for July 2014. The drop of 6.8 points follows the first positive results for the index since January 2014. Contributing factors to this decline include turmoil across the globe, increased concern about personal financial outlooks, and a decrease in positive economic news...August 29, 2014