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Data security and, specifically, the safeguarding of personal financial information, are primary concerns for consumers and their banks. Banks have consistently been rated highly in surveys of consumer confidence regarding security of customer information, while continuing to develop innovative methods of fighting identity fraud. CBA supports national uniformity for information security rules, rather than allowing a patch-work of state and local laws and regulations. CBA advocates clear, uniform and flexible rules that will facilitate compliance and provide latitude for fraud experts at financial institutions to continue to create dynamic solutions to address the challenges of information security.
- May 13, 2014RE: Amendment to the Annual Privacy Notice Requirement under the Gramm-Leach-Bliley Act (Regulation P) – Docket No. CFPB-2014-0010/RIN 3170-AA39 Dear Ms. Jackson: The undersigned trade associations (the American Bankers Association, the Consumer Bankers Association, the Financial Services Roundtable and the Independent Community Bankers of America) are working with our members to comment on the...
- May 9, 2014CBA Issues Comment Letter on CFPB’s Debt Collection Survey Proposal On Tuesday, May 6, 2014, CBA issued a comment letter to the CFPB in response to its proposed consumer debt collection survey. The Bureau requested public comment on a proposal to mail a survey to consumers in an effort to learn about their experiences interacting with the debt collection industry. While CBA strongly supports the...
- May 6, 2014May 6, 2014Washington, D.C. (May 6, 2014) – Richard Hunt, President and CEO of the Consumer Bankers Association, issued the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) proposed rule to ease privacy disclosure requirements for financial institutions that limit the amount of customer data they share with outside firms: “Many consumers already access account notices and...April 18, 2014April 14, 2014April 14, 2014April 11, 2014CFPB Attempts to Level the Playing Field We were glad to have CFPB Deputy Director Steven Antonakes at CBA LIVE last week where he made some news. In his remarks at the general session on April 2, 2014 he stated: “We are now increasingly able to level the playing field between banks and their nonbank competitors for the first time. These changes are most notable for the nonbank institutions, but...April 9, 2014March 28, 2014CBA LIVE 2014 – It’s Here and Good Weather Guaranteed! CBA LIVE 2014: Red, White + Banking is just 2 days away! Not only will we have record attendance at this event, but some of the best weather D.C. has seen in months. Join us Sunday night for an evening of fun with the Capitol Steps to help kick things off. We are looking forward to seeing everyone in their red, white and/or blue attire on...