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 4, 2016 - 2:00PM
    The consumer reporting industry has changed significantly over the last several years for furnishers large and small. The CFPB has continued to focus enforcement efforts on this space and has indicated that consumer reporting will remain one of their top priority areas.
  • April 28, 2016 - 2:00PM
    What started as role evolution in bank branches - universal roles as a bridge between tellers and sales staff to recapture stranded capacity - is now turning into a revolution.
  • April 7, 2016
    CFPB Webinar on TRID Issues The CFPB announced (on Thursday, April 7, 2016) a webinar will take place next Tuesday, April 12, 2016, at 2 p.m. EST to answer some common questions about the Know Before You Owe mortgage disclosure rule. The webinar will be hosted by the Federal Reserve and will address specific questions that various stakeholders have raised to the CFPB related to the interpretation...
  • April 4, 2016
    The Federal Reserve Bank of Minneapolis, on Monday, April 4, 2016, hosted an “Ending Too Big to Fail” symposium. The forum was the next step in the Minneapolis Fed’s #EndingTBTF initiative, which aims to have an “actionable plan to end TBTF” by the end of the year. The event featured remarks from Federal Reserve Bank of Minneapolis President Neel Kashkari, a keynote lunch, and two panel sessions...
  • April 1, 2016
    GAO Report is a Must Read When regulators fail to be efficient and effective, consumers are hurt the most. This week’s GAO report on financial regulation validated this point and concerns CBA has echoed for years; the Dodd-Frank Act was not a panacea. We must rethink our financial regulatory structure—this time, putting consumers first. Report Highlights: “While changes made by the Dodd-Frank Act...
  • March 31, 2016
    On Thursday, March 31, 2016, Comptroller of the Currency Thomas Curry in a speech at Harvard Kennedy School's New Directions in Regulation Seminar released a long anticipated white paper entitled: "Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective." The white paper published the OCC's definition of responsible innovation, which is "[t]he use of new or improved...
  • March 29, 2016
    On Tuesday, March 29, 2016, Federal Reserve Chair Janet Yellen gave a speech on monetary policy to the Economic Club of New York. In her remarks, she reiterated the Federal Open Market Committee (FOMC) "expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate." Describing the FOMC’s position as a forecast “not a plan set in stone...
  • March 24, 2016
    The Evolution of Banking In an address to the National Community Reinvestment Coalition’s (NCRC) Annual Conference last week, Comptroller Thomas Curry of the OCC remarked on how technological innovation is changing the game for the retail banking industry. We agree. Thanks to the ATM, internet, and now smartphone, many consumers complete all of their financial transactions remotely. Some services...
  • February 19, 2016
    On Friday, February 19, 2016, the federal banking agencies increased the number of small banks and savings associations eligible for an 18-month examination as opposed to a typical 12-month cycle. The changes are intended to reduce regulatory compliance costs for smaller institutions, while maintaining safety and soundness protections. Under the interim final rules, qualifying well-capitalized...
  • February 18, 2016 - 2:00PM
    US Consumers are a fickle bunch, particularly when it comes to financial services (banking, auto loans, credit cards, even alternative lending). FICO recently completed a study of these consumers and has uncovered some fascinating insights.