Preemption

CBA supports strong, uniform federal standards for federally chartered institutions. Federal preemption is a legal doctrine that holds a federal law governs all claims that fall within it and offers a vital safeguard against unwarranted and inconsistent state interferences with the national economy. In the banking industry, preservation of uniform federal standards has benefited consumers of financial products by making a wider range of banking products and services available to more consumers and, overall, lowering the costs of credit and other banking products and services. In turn, the banking system benefits from greater economies of scale and improved risk management.
  • March 22, 2017
    Download Whitepape r. KPMG LLP (KPMG) is pleased to announce the release of the new point-of-view document related to our Chief Compliance Officer (CCO) Survey findings , The compliance journey: Boosting the value of compliance in a changing regulatory climate . In a time of new U.S. administrative impacts to the regulatory environment, determining how to boost the value you get from your...
  • January 31, 2017
    Two announcements about regulation have emerged from the Trump White House in the past few days. On Friday, January 20, 2017, Assistant to the President and Chief of Staff Reince Priebus issued a memo for the heads of executive departments and agencies, entitled: "Regulatory Freeze Pending Review." The memo generally calls for agencies to do three things affecting the release of new regulations:...
  • May 28, 2015
    Yesterday, the Federal Communications Commission Chairman, Tom Wheeler, released a fact sheet on a proposal related to clarifications of the Telephone Consumer Protection Act (TCPA). The proposal theoretically addresses two dozen petitions that sought clarity on how the Commission enforces the TCPA. These petitions include requests from collection industry association ACA International as well as...
  • May 12, 2015
    The chairman of the Senate Banking Committee on Tuesday proposed the largest overhaul of financial rules since the Dodd-Frank Wall Street reform law, pinning his hopes for passage of the sweeping bill on a small group of moderate Democrats. Sen. Richard Shelby’s (R-Ala.) plan, detailed in a 216-page “discussion draft,” centers on provisions that would dramatically raise the threshold that...
  • March 18, 2015
    March 18, 2015 Chairman Michael C. Burgess Ranking Member Janice Schakowsky Subcommittee on Commerce, Subcommittee on Commerce, Manufacturing and Trade Manufacturing and Trade Committee on Energy and Commerce Committee on Energy and Commerce United State House of Representatives United State House of Representatives Washington, D.C. 20515 Washington, D.C. 20515 Statement for the Record for the...
  • March 6, 2015
    CFPB Director Testifies Before House Financial Services Committee On Tuesday, March 3, 2015, CFPB Director Richard Cordray testified before the House Financial Services Committee (HFSC) and provided the Bureau's Semiannual Report to Congress . In his opening statement, Director Cordray summarized the Bureau's activities for the previous six months including highlighting enforcement actions, some...
  • January 5, 2015
    Washington, D.C. (January 5, 2015) – The Consumer Bankers Association (CBA) and AOL Inc. (AOL) monthly Finance Optimism Index rose to -2.2 in November, gaining from October and showing rising consumer financial optimism as the holiday season began. Americans’ optimism about their personal financial future remained relatively stable with a one point increase. Worry about current financial...
  • December 2, 2014
    CBA and AOL Finance Optimism Index Falls 9.4 Points in October Erases Index Record High from September Washington, D.C. (December 2, 2014) – The Consumer Bankers Association (CBA) and AOL Inc. (AOL) monthly Finance Optimism Index dropped to -5.3 points in October, erasing gains from September, which saw the Index’s highest point to date. Americans’ level of optimism declined across all four...
  • October 23, 2014
    CBA and AOL Finance Optimism Index Jumps 11 Points in September Reaches Highest Level since Index Began Washington, D.C. (October 23, 2014) – The Consumer Bankers Association (CBA) and AOL Inc. (AOL) monthly Finance Optimism Index jumped 11.1 points in September, reaching its highest level since the Index began in 2013. September saw lower gas prices and strong performance in the stock market,...
  • October 6, 2014
    Dear Leader Reid and Leader McConnell, The undersigned trade associations, representing job creators across the country of all shapes and sizes, write to urge the Senate to consider and pass H.R. 5461, a bipartisan package of corrections to the Dodd-Frank Wall Street Reform and Consumer Protection Act that strengthen the underlying Act and provide critical clarifications to better oversee our...

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