CBA in the News

Press Contact

Nick Simpson
nsimpson@consumerbankers.com
202-552-6371
  • June 20, 2017
    A group of banks joined together against SoFi , one of the largest online lenders, urging the Federal Deposit Insurance Corp . to reject its application to launch a banking unit. Recently, SoFi took a major step toward becoming a bank, filing an application for a special banking charter known as an industrial loan company (ILC). However, Chris Cole, senior regulatory counsel at the Independent...
  • June 14, 2017
    Newly announced Trump administration plans to weaken or eliminate many financial-industry regulations enacted after the 2008 financial crisis mark the opening shot in what consumer groups predict will be a long Washington siege. On Tuesday, the day after the Department of the Treasury issued the most detailed blueprint yet of proposed changes to the Dodd-Frank Wall Street Reform and Consumer...
  • June 13, 2017
    Coming on the heels of the U.S. House of Representatives passing H.R. 10, the Financial CHOICE Act , in an effort to modify the Consumer Financial Protection Bureau among other objectives, the U.S. Department of the Treasury late on Monday issued its first in a series of reports to President Trump examining the U.S. financial regulatory system and detailing executive actions and regulatory...
  • June 13, 2017
    Deregulation is on the horizon according to the U.S. Department of the Treasury’s Monday report . The report is the first in a series to President Trump examining the U.S. financial regulatory system and reviewing ways to immediately provide relief, however some feel relief is the last thing the modifications will do. Treasury Secretary Steven Mnuchin and other officials have been listening to...
  • June 13, 2017
    The U.S. Treasury Secretary Steven Mnuchin unveiled the much-anticipated report on the department's assessment of the financial market as ordered by President Donald Trump earlier this year. The report details potential executive actions and regulatory changes that can be immediately undertaken to provide much-needed relief, according to the Treasury. Though, to be sure, the timeline of...
  • June 13, 2017
    Top lobbying groups for the financial industry are pushing back against the Consumer Financial Protection Bureau as the regulator ratchets up pressure on credit products that can lure in customers with zero-interest terms but later surprise them with high charges. Earlier this month, on the same day CFPB Director Richard Cordray announced he had sent letters to top credit card companies urging...
  • June 13, 2017
    Treasury secretary Steven Mnuchin has responded to Donald Trump’s call for a regulatory break for US banks, announcing a slew of recommendations designed to overhaul a regime that aides say has been “disastrous” for the world’s largest economy. Some of the recommendations contained within a 147-page report , released on Monday evening, will require the support of Congress — which could be...
  • June 12, 2017
    CBA’S HUNT ON REGS — Consumer Bankers Association chief Richard Hunt sat down with the AP to talk politics, competition and Wells Fargo. Read more .
  • June 12, 2017
    WASHINGTON — The Treasury Department released its highly anticipated report on revamping financial industry regulations late Monday, including many expected recommendations while also offering up some surprises. In some respects, the report echoes a bill passed by the House last week, including a leverage ratio “off-ramp” from many post-crisis rules, a significant paring back of the Federal...
  • June 12, 2017
    President Donald Trump's Treasury Department called for broad changes in the way the government oversees the nation's banks, including a plan to rein in the Democrats’ crown jewel of regulation: the Consumer Financial Protection Bureau. In its first substantive move into the financial regulatory debate, the Treasury Department issued a report Monday calling for the popular watchdog agency to be...

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