CFPB

Enactment of the Dodd-Frank Act created the Consumer Financial Protection Bureau, an agency charged with carrying out federal consumer financial laws. We are focused on retail banking products and services, making CBA the industry resource on the CFPB. Our insights and analysis on CFPB-related issues, along with the latest news and information, provides our members with the necessary tools to navigate this new regulatory environment.
  • January 24, 2020
    CBA Statement on CFPB’s UDAAP Announcement WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Consumer Financial Protection Bureau provided a framework for how the Bureau will apply the “abusiveness” standard in supervision and enforcement matters: “Defining the CFPB’s interpretation of its UDAAP authority will assist consumers as...
  • January 22, 2020
    To Whom It May Concern: The Clearing House Payments Company LLC (“TCH”), the American Bankers Association, the Consumer Bankers Association, and the Bankers Association for Finance and Trade (collectively, the “Associations”) respectfully submit this comment in response to the Consumer Financial Protection Bureau’s (“Bureau”) Notice of Proposed Rulemaking—Remittance Transfers under the Electronic...
  • January 2, 2020
    The Consumer Bankers Association has pushed for a compromise that would protect the CFPB head from presidential firings but have the director answer to a bipartisan commission to oversee the agency. “If the Court determines the Bureau’s single-director structure is unconstitutional (and assuming the Court cannot itself create the bipartisan commission Congress would have desired), the appropriate...
  • December 17, 2019
    Several amicus briefs, including those from the Consumer Bankers Association and the Credit Union National Association , argued that if the Supreme Court decides the CFPB’s structure is unconstitutional, it must strike down all of the Dodd-Frank provisions creating the bureau. Both groups, whose members are regulated by the CFPB, argued, like Seila, that it’s up to Congress to decide how to...
  • December 17, 2019
    BRIEF FOR AMICUS CURIAE CONSUMER BANKERS ASSOCIATION IN SUPPORT OF NEITHER PARTY INTEREST OF AMICUS CURIAE The Consumer Bankers Association (“CBA”) is the only member-driven trade association focused exclusively on retail banking. CBA members operate in all 50 states, serve more than 150 million Americans, and hold two thirds of the country’s total depository assets. Eighty-five percent of CBA’s...
  • December 16, 2019
    CBA Files Amicus Brief in CFPB Constitutionality Case WASHINGTON – The Consumer Bankers Association (CBA) today filed an amicus brief with the U.S. Supreme Court in the Seila Law LLC v. Consumer Financial Protection Bureau case. CBA’s brief argues, if the CFPB leadership structure is ruled unconstitutional, Congress should be allowed to create a constitutional structure, such as a bipartisan...
  • October 18, 2019
    CBA on Supreme Court Hearing CFPB Constitutionality Case “Regardless of the outcome, a sole-director calling all the shots will never provide the long-term stability consumers deserve and the well-regulated financial sector needs. For that, Congress must create a bipartisan, Senate-confirmed commission to lead the Bureau…” WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt...
  • October 16, 2019
    CBA Recommends Legislative, Regulatory Changes to Improve CFPB, Consumer Protections WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt wrote the chairs and ranking members of the House Financial Services and Senate Banking committees related to hearings on the Consumer Financial Protection Bureau’s semi-annual report to Congress. In the letter, CBA recommends ways to...
  • October 10, 2019
    CBA Statement on White House Executive Order on Guidance “Guidance can be a useful tool in clarifying complex rules and regulations but should not be used as a shortcut to implement new ones.” WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after President Donald Trump signed an Executive Order on the use of regulatory guidance: “Guidance...
  • October 10, 2019
    CBA Writes House Leadership on CFPB Constitutionality Case, Need for Bipartisan Commission “The potential of a court ruling that could install a director, removeable at-will, would bring increased confusion … A lack of certainty and long-term consistency in leadership at the Bureau adversely affects consumers, our economy and the financial services industry.” WASHINGTON – The Consumer Bankers...

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