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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.
- September 27, 2013Bipartisan Policy Center Releases Report Analyzing CFPB’s Progress On Tuesday, September 24, 2013, the Bipartisan Policy Center, a DC-based think tank, released a report entitled , “The Consumer Financial Protection Bureau: Measuring the Progress of a New Agency.” The report reviews the CFPB’s progress since its inception two years ago, providing recommendations for improvements. It covers the...
- September 26, 2013September 25, 2013September 20, 2013CFPB Finalizes Additional Changes to Mortgage Rules On Friday, September 13, 2013, the CFPB finalized several amendments to the mortgage lending and servicing rules released earlier this year. The Bureau announced the proposed amendments in June in response to questions and suggestions from industry participants. The rules go into effect in January of 2014. The amendments are as follows:...September 13, 2013Director Cordray Testifies Before House Financial Services Committee On Thursday, September 12, 2013, Director Cordray testified before the House Financial Services Committee on the Consumer Financial Protection Bureau’s (CFPB) Semi-Annual Report to Congress, which covers the last six months of 2012. In his opening statement, Chairman Hensarling highlighted the lack of checks and balances on the...September 6, 2013CFPB Names Steven Antonakes Deputy Director On Wednesday, September 4, 2013, the CFPB officially named Steven Antonakes its deputy director. He has served as the Bureau’s acting deputy director since January. CBA President and CEO, Richard Hunt, issued a statement congratulating Antonakes, adding, “CBA looks forward to continuing to work with the CFPB and him in the coming months and years.” CFPB...September 6, 2013Another Private Lender Vacates Student Loan Market Yesterday's news that another retail lender was leaving the student loan business is exactly the result the Administration and those Members of Congress desired when they orchestrated a federal government takeover of the student lending market. Like many government programs, the result has been disastrous. College costs have continued to rise and...September 4, 2013Washington, D.C. (September 4, 2013) – Richard Hunt, President/CEO of the Consumer Bankers Association, issued the following statement upon the announcement that Steven Antonakes has been officially named deputy director of the CFPB. Antonakes had been serving as the bureau’s acting deputy director: “CBA congratulates Steven Antonakes on being named the permanent deputy director of the CFPB. His...August 30, 2013CFPB Consumer Advisory Board to Meet The CFPB has announced on its blog that the Consumer Advisory Board will meet on September 18, 2013 in Itta Bena, Mississippi, to discuss “innovate strategies for improving consumer access to credit, information, and financial resources.” Director Cordray is scheduled to give remarks, and the event is open to the public. CFPB Announces Student Debt Report...August 28, 2013