Richard's Rapid Fire

  • August 28, 2015
    The Latest in the Complaint Saga: More Irresponsible Info from the CFPB On Tuesday, the Bureau released its monthly consumer complaints snapshot . According to the report, as of August 1, 2015, the CFPB has "handled" 677, 200 complaints nationally. This may seem like a lot... unfortunately, this number is absolutely worthless. The CFPB cites this 677,000 number but fails to reveal it includes...
  • August 21, 2015
    Working with the CFPB—Advice from the Inside Here's what a former CFPB attorney had to say in the way of advice to lenders on how to better work with the CFPB. Gerald Sachs, formerly a senior counsel for enforcement strategy at the Bureau, told attendees at Automotive Resource Network's 2015 Annual Automotive Conference the CFPB "doesn't care" if consumer complaints represent a statistically...
  • August 14, 2015
    Just because Congress is on vacation doesn't mean the regulators are. Thanks again to all of you who joined our membership call on Monday. Discussion included an update on CBA's top legislative regulatory priorities. Stay tuned for our next call! TIME Waxes Nostalgic On Thursday, TIME magazine published a long-form article looking back on the CFPB's first four years. Disappointing read . Too bad...
  • August 7, 2015
    CFPB and the Question of Constitutionality "The constitutionality of the CFPB's structure is now on track for its first review by a federal appeals court. This is going to be interesting," wrote Alison Frankel for Reuters on Tuesday, August 4, 2015. The day before, the motions panel of the District of Columbia U.S. Circuit Court of Appeals granted PHH Corporation's motion, finding the company had...
  • July 31, 2015
    CBA’s Executive Banking School Graduates 94 Tuesday morning 94 bankers wrote the final chapter of their journey through CBA’s Executive Banking School. Graduates invested three years and countless hours to their studies as they prepared to become the future leaders of banking. Congratulations to all our graduates including Tony Warden —this year’s recipient of the Tem Wooldridge Award —for his...
  • July 24, 2015
    Breaking News on CFPB Court Challenge According to a Bloomberg report , a Federal appeals court has revived the constitutional challenge to the CFPB. The ruling states a Texas bank can challenge the Bureau's powers even though the bank's conduct has not been subject to any enforcement. CFPB Shuffles Leadership With Steve Antonakes' planned departure, the CFPB announced two personnel changes on...
  • July 17, 2015
    Antonakes to Leave CFPB The CFPB announced on Thursday Deputy Director Steven Antonakes will return to Massachusetts full time. Antonakes' insight as a career examiner brought valued credibility to two important roles at the Bureau: Deputy Director and Associate Director for Supervision, Enforcement and Fair Lending. He struck the right balance between the safety and soundness of a bank and...
  • July 10, 2015
    Meeting with our Members This week we visited our bankers at Sallie Mae Bank in their Delaware offices to discuss the state and strength of the private student lending industry, how banks are protecting consumers, and the CFPB complaints portal. Thank you to Ray Quinlan , Chairman, Chief Executive Officer; Charlie Rocha , Executive Vice President, Chief Marketing Officer; and Paul Thome ,...
  • 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...

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