Richard's Rapid Fire

  • July 2, 2015
    Honoring our Men and Women of the Armed Services As we fire up the grills and reunite with family this weekend, remember to take a moment to reflect on the true meaning of this Independence Day and thank those who have so honorably served our nation. Thank you to all our banks who provide transition services to our veterans. Happy Fourth to all of you! Branch Buzz At last week's board meeting,...
  • June 26, 2015
    Action-Packed Week at CBA Headquarters We had a spectacular week at CBA Headquarters with our Board of Directors and the Mid-Tier Retail Executives in Washington, D.C. On Tuesday morning, CBA's Mid-Tier Retail Executives held their in-person meeting to discuss the latest issues impacting CBA member banks with $10-50 billion in assets. That afternoon, both the Board and Mid-Tiers joined efforts to...
  • June 19, 2015
    Two-Month TRID Delay On Wednesday, due to “an administrative error,” CFPB Director Cordray announced the Bureau is proposing to delay the effective date of the CFPB’s TILA/RESPA Integrated Disclosure (TRID) regulation by two months (moving the date to October 1 from August 1). Though banks have been working with their vendors to ensure a smooth integration, this additional time will help...
  • June 12, 2015
    Student Loan Repayment – The Responsible vs. The Irresponsible This week, MeasureOne released its latest report on private student lending. Once again, it shows banks are working in a responsible manner with students—roughly 98 percent of loans are in repayment. This news comes on the heels of a New York Times op-ed published last weekend entitled, “ Why I Defaulted on My Student Loans .” An...
  • June 5, 2015
    Update on TRID On Wednesday, CFPB Director Richard Cordray announced the Bureau’s enforcement will be sensitive to those mortgage lenders seeking to comply in good faith with the CFPB’s TILA-RESPA Integrated Disclosure (TRID) regulation. As the industry approaches the date for transition to the new mortgage disclosure rule taking effect August 1, 2015, we welcome the Director’s decision finally...
  • May 29, 2015
    TRID: 295 Members of Congress Join Our Call A bipartisan, bicameral group of legislators (dozens of Democrats, including Maxine Waters of California, a long-standing supporter of the CFPB) sent letters to CFPB Director Richard Cordray late last week urging him to offer a hold-harmless period for those making a good faith effort to comply with the CFPB’s TILA/RESPA Integrated Disclosures (TRID)...
  • May 22, 2015
    Senate Banking Committee Passes Regulatory Relief Bill In the five years since Congress passed Dodd-Frank, CBA member banks have undergone significant transformation in response to this legislation, while still meeting the needs of the American consumer and small business. As you all know, however, Dodd-Frank is not perfect. Now is the time for Congress to address the unintended consequences of...
  • May 15, 2015
    REMINDER : Today is the deadline to apply to CBA Executive Banking School. Learn more... Discussion Draft Released for Senate Regulatory Relief Bill Last week, we noted the Senate Banking Committee could vote this week on legislation aimed at providing regulatory relief for small and regional banks (among other things). The vote has been postponed until next week, but Senate Banking Chairman...
  • May 8, 2015
    TRID Update CFPB Director Richard Cordray sent this letter to Reps. Neugebauer and Luetkemeyer in response to their request to extend the TRID deadline. As we have said, though our members are working very hard to meet the August deadline, it is a colossal undertaking dependent on timely deliverables from outside vendors and significant testing and training. We will continue to urge the Director...
  • May 1, 2015
    CFPB to Host Student Debt Field Hearing in Milwaukee Earlier this week, the CFPB announced next month in Milwaukee, WI it will hold a field hearing on student debt. The hearing will take place on Thursday, May 14 at 11 a.m. EST and will feature remarks from Director Richard Cordray, industry representatives, consumer groups, and members of the public. The Dodd-Frank Act required the creation of a...

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