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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.
- July 28, 2021WASHINGTON – CBA President and CEO Richard Hunt today issued the following statement after Congressman Blaine Luetkemeyer (R-MO), Ranking Member of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, introduced a bill to replace the position of the Director at the Consumer Financial Protection Bureau (CFPB) with a five-member bipartisan commission: “Thank...
- July 21, 2021WASHINGTON – CBA President and CEO Richard Hunt today issued the following statement recognizing the 10th anniversary of the Consumer Financial Protection Bureau (CFPB): “The CFPB’s mission of increasing transparency and fairness and clearly defining the rules of the road is profoundly important and a mission CBA has long championed. “Over the last 10 years, the Bureau has taken some important...
- July 15, 2021The Consumer Bankers Association (“CBA”) appreciates the opportunity to comment on the Consumer Financial Protection Bureau’s (“Bureau” or “CFPB”) Advanced Notice of Proposed Rulemaking (ANPR) concerning Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Section 1033”). In 2017, the Bureau released “Consumer Protection Principles: Consumer-Authorized Financial Data...
- July 9, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Biden Administration released a sweeping anti-trust executive order that will direct the Consumer Financial Protection Bureau (CFPB), prudential regulators and other federal agencies to examine activity on mergers and acquisitions within the banking sector: “ Our nation’s leading...
- June 16, 2021On Wednesday, June 16, 2021, the CFPB issued an interpretive rule that explains the basis for its authority to examine supervised financial institutions for risks to active duty servicemembers and their dependents (i.e. military borrowers) from conduct that violates the Military Lending Act (MLA). “The Military Lending Act is an essential law protecting the finances of our military families and...June 15, 2021WASHINGTON – CBA President and CEO Richard Hunt today released the following statement recognizing World Elder Abuse Awareness Day. Elder financial exploitation threatens the financial security of millions of older Americans and is estimated to cost victims nearly $3 billion every year. “Senior citizens are increasingly the victims of financial scams. In recent years, this alarming trend has been...March 31, 2021CBA Statement on CFPB Decision to Revoke Much-Needed COVID-19 Flexibility WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Consumer Financial Protection Bureau, under Acting Director Dave Uejio, announced its decision to revoke much-needed COVID-19 flexibility for banks, which will go into effect tomorrow, April 1, 2021: “This...March 1, 2021BankThink CFPB director is supposed to be an apolitical job By Richard Hunt March 01, 2021, 11:03 a.m. EST4 Min Read Facebook Twitter LinkedIn Email Show more sharing options Since its inception a decade ago, the Consumer Financial Protection Bureau has been a political hot potato — tossed from director to director, and interims along the way. Meanwhile, consumers, small businesses and financial...February 22, 2021With constantly changing global reforms, the US is discovering a radically new regulatory landscape when it comes to customer complaints. This evolving environment has provided challenges for the financial services industry in particular, with new legal and regulatory changes such as CCPA coming into force last year. The addition of increased competition, ever-changing risk and heightened...February 4, 2021Ladies and Gentlemen: The undersigned financial services trades welcome the opportunity to comment on the Consumer Financial Protection Bureau (CFPB)’s Advanced Notice of Proposed Rulemaking regarding consumer access to financial records. We believe that responsible innovation in financial services will continue to benefit customers as it has throughout history. The use of data plays a critical...