CBA in the News

Press Contact

Nick Simpson
nsimpson@consumerbankers.com
202-552-6371
  • September 7, 2017
    Square is expected to apply for an Industrial Loan Company (ILC) bank charter this week, according to American Banker and other sources. Like SoFi, who is busy trying to do the same thing, their attempt will also face competitive resistance. In June, Richard Hunt, president and CEO of the Consumer Bankers Association (CBA), told deBanked that in the case of SoFi, “The whole world is evolving,...
  • September 4, 2017
    CINCINNATI/WASHINGTON Sept 4 (Reuters) - The head of the U.S. consumer watchdog will discuss his agency’s work at one of the country’s largest Labor Day gatherings on Monday and simultaneously stoke major doubts about its future. Democrat Richard Cordray, appointed head of the Consumer Financial Protection Bureau by former President Barack Obama, is widely expected to enter Ohio’s governor race...
  • August 31, 2017
    The chairman of the House Financial Services Committee wants a definitive answer to a question that both he and Consumer Bankers Association president and chief executive officer Richard Hunt have been asking for some time: Is Consumer Financial Protection Bureau director Richard Cordray departing the regulator to run for governor in Ohio? Rep. Jeb Hensarling, the committee chair and Texas...
  • August 31, 2017
    WASHINGTON — With the election of President Trump, the nation’s consumer watchdog agency faced a quandary: how to shield the Obama-era institution from a Republican administration determined to loosen the federal government’s grip on business. In the weeks after the election, Richard Cordray, the Democrat who leads the agency, the Consumer Financial Protection Bureau , directed his staff to...
  • 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...

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