CBA in the News

Press Contact

Jacqueline Ortiz Ramsay
jramsay@consumerbankers.com
202-552-6371
  • December 8, 2016
    As the Consumer Financial Protection Bureau reported that it handled approximately 27,000 complaints in October, four industry associations delivered a letter this week to the Senate’s top leaders, urging the bureau’s structure be modified to create a five-person, bipartisan board. The letter addressed to Sen. Mitch McConnell, the majority leader, and Sen. Chuck Schumer, who has been elected to...
  • December 7, 2016
    FIRST LOOK: FINANCIAL TRADES PUSH ON CFPB — The Consumer Bankers Association, the Credit Union National Association, the Independent Community Bankers of America, and the National Association of Federal Credit Unions are sending a letter to Congress on Wednesday pushing for substantial changes to the CFPB. Via a person familiar with the effort: “These trades have been working with both parties to...
  • December 7, 2016
    Six years ago, when President Obama signed the Dodd-Frank Act into law, America’s retailers got a big reduction in the debit-card fees they pay banks. Now, with Donald J. Trump set to take office, they’re preparing for a lobbying fight to defend that legislative victory -- and the billions they’ve saved as a result. Retail industry trade groups are rallying their base to try to beat back a part...
  • December 7, 2016
    Bank and credit union groups this morning urged Congress to replace the Consumer Financial Protection Bureau’s single-director leadership structure with a five-member bipartisan governing board. The letter cited high levels of uncertainty about pending CFPB regulations, adding that a recent federal appeals court ruling “clearly demonstrated a sole director leadership model is fragile, uncertain,...
  • December 7, 2016
    Bank lobbying groups are pressing the U.S. Senate to once again work on reforming the country's consumer financial watchdog agency - but this time around they may see those changes become reality. In a letter to Senate leaders released on Wednesday the groups, including the Consumer Bankers Association and the Credit Union National Association, called for legislation to change the leadership of...
  • December 7, 2016
    President-elect Donald Trump treated more than 800 donors to a play-by-play of election-night drama at a New York breakfast fundraiser on Wednesday, according to two people who attended the event. Trump’s recounting of his emotions on Nov. 8 took up the bulk of his remarks at the restaurant Cipriani, with one attendee relaying that Trump said he expected to lose and take a vacation with his wife...
  • December 2, 2016
    The historic announcement by the Office of the Comptroller of the Currency granting national bank charters to fintech firms is exposing the stark differences between banks in their approach to the upstarts that are disrupting the industry. Representatives of larger banks praised the limited charter principles for setting high standards, while community banks — more threatened by the emerging...
  • December 2, 2016
    The hardest lesson too many college students are learning is the true cost of their federal student loans when the bill from Uncle Sam comes due. Unlike disclosures from private lenders for mortgages, car loans and student loans, the U.S. Department of Education withholds critical financial information meant to inform borrowers of loan terms before funds are provided. Meanwhile, the Consumer...
  • November 30, 2016
    Steven Mnuchin is in for a bumpy ride on the road to confirmation if leading Democratic senators follow through on their threatening statements about President-elect Donald Trump’s pick for Treasury secretary. The transition team on Wednesday said Trump will nominate Mnuchin for the top Treasury post. Liberal Democrats were swift to react. Sens. Elizabeth Warren (Mass.) and Bernie Sanders (I-Vt...
  • November 17, 2016
    Progressive Democrats sent a letter to congressional leadership on Thursday urging them not to pass a budget bill that would reform the Consumer Financial Protection Bureau and other components of the Dodd-Frank Act. "Congress must not include in end-of-year funding legislation any riders designed to repeal, undermine, or delay any provisions of Wall Street reform," said the letter from Sen...

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