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 18, 2016
    On Thursday, February 18, 2016, the CFPB issued file specifications for the Home Mortgage Disclosure Act (HMDA) collection for 2017 and 2018. This resource for HMDA filers outlines the fields to be reported annually and explains how each field should be reported under the final HMDA rule. Beginning in 2017, HMDA data will be submitted electronically, but will include the data reported prior to...
  • February 16, 2016 - 2:00PM
    Industry expert Andy Walden, Program Manager at Black Knight Data & Analytics will discuss the impact of rising home prices and interest rates on home equity lending along with the ongoing impact of draw period expirations on home equity line of credit performance.
  • February 10, 2016 - 2:00PM
    The first stage of banking transformation primarily focused on distribution and workforce strategies for reducing expenses. Why? Because most banks viewed their branch network and branch staff as expenses. The next stage of banking transformation will focus on strategies for growing revenue as banks turn their branch networks into sales and advice centers rather than transaction centers.
  • February 10, 2016
    Nearly eight years after the financial crisis, instances of misconduct across the spectrum of the industry continue to be reported in the press with troubling frequency. The coverage strikes an uncomfortable contrast with the intensity of effort the industry and the regulators have focused on reforming and remediating the weaknesses the crisis brought to light. Overall, this environment has...
  • February 10, 2016
    On Wednesday, February 10, 2015, the CFPB published a notice in the Federal Register to correct a typo regarding tolerances for property taxes and certain other property-related costs. The error was found in the “Supplementary Information” to the TILA-RESPA Integrated Disclosure rule. According to the CFPB’s addendum, the supplementary information to the TILA-RESPA Final Rule, which was released...
  • February 5, 2016
    Many CBA Members Already Serving Unbanked Earlier this week, in conjunction with a Wednesday field hearing in Louisville, KY, the CFPB made headlines by calling on the nation’s 25 largest banks to offer alternative (i.e. low-cost, no overdraft) checking accounts to consumers. CBA strongly believes all U.S. consumers should have access to checking accounts with upfront fee disclosures and clear...
  • February 2, 2016
    On Tuesday, February 2, 2016, the House Financial Services Committee adopted by a vote of 33 to 24 its Budget Views and Estimates for financial services programs for Fiscal Year 2017. The Views and Estimates will now be submitted to the Budget Committee for consideration in formulating a budget resolution, which, by statute, is to be completed by April 15 of each year. In his opening statement,...
  • February 2, 2016
    On Tuesday, February 2, 2016, the CFPB announced a settlement , in conjunction with a Department of Justice (DOJ) action , with Toyota Motor Credit Corporation to resolve discriminatory outcomes in auto lending. Under the agreement, Toyota Credit will pay $21.9 million in restitution to African American and Asian or Pacific Islander consumers for pricing disparities from non-Hispanic white...
  • January 29, 2016
    On Friday, January 29, 2016, the CFPB announced the settlement administrator distributed checks to consumers for restitution under the Ally Bank indirect auto settlement. As a reminder, the Ally enforcement action was filed in December of 2013 and ordered Ally to pay $80 million in consumer restitution and $18 million to the CFPB in civil money penalties.