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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.
- May 30, 2013Dear Sir or Madam: This comment letter is submitted by the Consumer Bankers Association, The Financial Services Roundtable, and The Clearing House (collectively the “Associations”) in response to proposed supervisory guidance (“Proposal”) regarding deposit advance products, which was published in the Federal Register on April 30, 2013, by the Office of the Comptroller of the Currency (“OCC” or “...
- May 19, 2013May 3, 2013May 1, 2013May 1, 2013April 24, 2013Washington, D.C. (April 24, 2013) – Statement of Richard Hunt, President and CEO, Consumer Banker's Association: "CBA believes all products should be offered in a clear and transparent manner, and no product should force consumers into a "debt trap". CBA member banks who offer deposit advance products already mandate "cooling off" periods for consumers. Many consumers rely on short term loan...April 22, 2013Ladies and Gentlemen: The American Bankers Association, the Financial Services Roundtable and the Consumer Bankers Association (“the Associations”) appreciate the opportunity to comment on the proposed revisions to the Consolidated Reports of Condition and Income (“Call Report”), as issued by the Federal Deposit Insurance Corporation (“FDIC”), Office of the Comptroller of the Currency and the...April 19, 2013CBA Attends Meeting on Project Catalyst On Tuesday April 16, 2013, CBA's Associate General Counsel Jeff Bloch attended a meeting at the CFPB to discuss Project Catalyst , the Bureau’s initiative to encourage consumer-friendly innovation and entrepreneurship in consumer financial products and services. This project was developed to fulfill the Dodd-Frank Act mandate to give all consumers access to...April 17, 2013Dear Representative Fincher: The undersigned organizations wish to express our support for H.R. 1221, the “Basel III Capital Impact Study Act”, particularly the provisions that would require the Federal banking agencies to perform a Quantitative Impact Study (QIS) of the proposed Basel III framework. We were also pleased to see similar legislation, S. 737 introduced by Senator Richard Shelby this...March 29, 2013CFPB Field Hearing and Expansion of Consumer Complaint Database As referenced in Rapid Fire, on Thursday, March 28, 2013, the CFPB held a field hearing in Des Moines, Iowa, on its consumer complaint database. Prior to the hearing, the Bureau announced a significant expansion of its database from about 19,000 credit card complaints to more than 90,000 complaints on mortgages, student loans, bank...