CBA in the News

Press Contact

Bobby Grant
bgrant@consumerbankers.com
202-552-6365
  • August 25, 2017
    WASHINGTON — If Consumer Financial Protection Bureau Director Richard Cordray opts to run for governor of Ohio, as is widely expected, his time at the agency may end up complicating rather than helping his campaign. Republicans are already accusing Cordray of misusing his job as a fundraising platform and claiming that he is rushing rules out the door before he leaves. Many CFPB allies, meanwhile...
  • August 25, 2017
    Despite seemingly overwhelming rumors about Consumer Financial Protection Bureau Director Richard Cordray’s supposed intention to step down and run for governor of Ohio, thus far, Cordray has done nothing one way or the other to stamp out the rumors about his future. All the while, the noise surrounding Cordray’s future keeps getting louder and louder . And according to the Consumer Bankers...
  • August 24, 2017
    U.S. banks are seeing more credit-card debt and auto loans go sour, a potentially worrying point for regulators in an otherwise upbeat picture of banks’ financial performance . When the Federal Deposit Insurance Corp. released its report on banks’ second-quarter earnings this week, the data showed fewer loans being charged off for all loan types, except two: credit cards and auto loans. FDIC...
  • August 23, 2017
    CORDRAY WATCH — Via POLITICO’s Lorraine Woellert for MM: With CFPB Director Richard Cordray poised to quit any day now to run for Ohio governor — or not — Washington is uneasy about what’s next for the bureau. Under the rules, Cordray’s deputy steps up to the top slot if he leaves. But the agency has been without a permanent deputy since July 2015 because Cordray hasn’t named anyone to the post...
  • August 23, 2017
    [excerpt] Here's your Richard Cordray watch for Wednesday: The head of the Consumer Financial Protection Bureau in a New York Times op-ed piece defended a CFPB rule that allows consumers to band together and sue their banks. The Washington Post says the "arbitration rule" takes aim at the fine print in many of the agreements that consumers sign when they apply for credit cards or bank accounts...
  • August 14, 2017
    Auto finance veteran Nick Stanutz announced his plan to retire from Huntington Bancshares Inc., effective Dec. 31, following 31 years of service in various roles of increasing leadership. Stanutz came to Huntington in May 1986 to help build Huntington's new auto lending portfolio. In 1993, he moved to Columbus to lead all of consumer banking for Huntington. In 1998, Stanutz became part of...
  • July 27, 2017
    Now it’s the Senate’s turn. The House approved resolution on Tuesday leveraging authority provided under the Congressional Review Act (CRA) to stop the Consumer Financial Protection Bureau’s final rule prohibiting the use of class action waivers in arbitration clauses. Despite all House Democrats and one Republican voting against H.J. Res 111, the resolution cleared the chamber by a vote of 231-...
  • July 27, 2017
    The House passed a resolution July 25 that would invalidate a recently adopted Consumer Financial Protection Bureau rule to prohibit financial firms from steering consumers into mandatory arbitration to resolve disputes. H.J.Res. 111, sponsored by Rep. Keith Rothfus (R-Pa.), passed the chamber in a 231-190 vote. A similar resolution has been introduced in the Senate, where it can be passed under...
  • July 27, 2017
    DINGING CFPB, NOT EASY AS 1-2-3 — The House voted along party lines Tuesday to strike down a landmark rule from the Consumer Financial Protection Bureau, but the real fight begins in the Senate. The debate over the rule, which bars the use of mandatory arbitration clauses in consumer contracts with financial firms, is the first real battle over CFPB in a Republican-controlled Congress, setting...
  • July 27, 2017
    The House voted Tuesday to repeal a controversial new rule from the Consumer Financial Protection Bureau (CFPB) that would have protected consumers’ rights to sue banks in class-action lawsuits. Lawmakers voted 231-190 to repeal the rule using the Congressional Review Act, a law that allows Congress to eliminate regulations within 60 days of their release and bars agencies from issuing similar...

Pages