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.
  • May 9, 2014
    GSRBM Applications due Next Week The deadline to submit your application to the CBA-BAI Graduate School of Retail Bank Management (GSRBM) is this coming Thursday, May 15, 2014. GSRBM provides a rigorous, boutique education for ambitious bank officers over the course of three ten-day summer sessions. Speakers this year include: Carrie Tolstedt, Senior Executive Vice President of Community Banking...
  • May 7, 2014
    RE: Information Collection – Debt Collection Survey from the Consumer Credit Panel, OMB Control Number: 3170-XXXX, [Docket No: CFPB-2014-0005] Dear Mr. Vasan: The Consumer Bankers Association (“CBA”) appreciates the opportunity to respond to the Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”) request for comments on its proposed “mail survey of consumers to learn about their...
  • May 6, 2014
    Washington, D.C. (May 6, 2014) – Richard Hunt, President and CEO of the Consumer Bankers Association, issued the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) proposed rule to ease privacy disclosure requirements for financial institutions that limit the amount of customer data they share with outside firms: “Many consumers already access account notices and...
  • May 2, 2014
    House Financial Services Committee Votes to Subpoena CFPB Over Discrimination Allegations On Tuesday, April 29, 2014, the House Financial Services Subcommittee on Oversight and Investigations met to consider testimony regarding allegations of discrimination at the CFPB. The CFPB and the National Treasury Employees Union (NTEU) did not allow Bureau officials to appear as witnesses at a...
  • May 2, 2014
    Earnings Season Wraps Up This week wrapped up the quarterly earnings reports of CBA’s member banks. Mortgage lending and overall revenue continues to lag, prompting M&T Bank CEO Robert Wilmers to state: “Too many banks are competing for too few loans in an economy that continues to be characterized by slow and uneven growth.” This is a sentiment shared by other bank CEOs including BB&T’s...
  • April 25, 2014
    CFPB Releases Mortgage Closing Report In a report released on Wednesday, April 23, 2014, the CFPB found many consumers feel pressured by lenders to rush through the closing process and sign documents even when they did not fully understand the terms. The Bureau listed three major “pain points” for consumers during the closing process, which included: Not enough time to review : Consumers were...
  • April 25, 2014
    CBA/AOL March Finance Optimism Index Results: Partly Cloudy Results for the CBA/AOL Finance Optimism Index show a decline for the second month in row. Consumer polling in March showed a -6.2 level of optimism, compared to -2.6 last month - a decline of 3.6 points - as Americans grow more concerned about their current financial situation. With the impending tax deadline in April, consumers were...

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