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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.
- March 12, 2013March 12, 2013March 11, 2013Phoenix, AZ (March 11, 2013) – Please attribute this statement to CBA President and CEO, Richard Hunt: "CBA continues to call for changes to the CFPB structure, including from a sole director to a commission, so it endures the test of time, not just the next election. This is the preferred leadership structure at independent regulatory agencies since the OCC was created in 1863, as it provides...March 8, 2013Packing for Phoenix - CBA LIVE My shoes are shined. My shirts are folded. But there is no tie in my bag for Phoenix. Remember we are business casual, and as a result, ties are banned from CBA LIVE and will be confiscated. Team CBA looks forward to welcoming you and more than 1,000 attendees from 71 national and regional banks to “The Future of Money.” The United States banking system is the...March 8, 2013Cordray Confirmation Hearing Scheduled for Next Week As mentioned above, the Senate will hold a confirmation hearing for Richard Cordray as CFPB Director on Tuesday, March 12, 2013. On Friday, February 1, 2013, 43 Republican senators sent a letter to President Obama reconfirming their commitment to vote down Cordray or any other nominee for Director of the CFPB. The senators indicated any nominee...March 1, 2013CBA Submits Comment on Additional QM Proposal On Monday, February 25, 2013, CBA filed a comment letter with the CFPB in response to the QM proposal the agency issued last month, in connection with the final QM rules that were also issued at that time. Highlights of the letter are as follows: In our earlier comment letter in response to the initial QM proposal issued in 2011, CBA opposed the...March 1, 2013February 28, 2013February 25, 2013Dear Ms. Jackson: The Consumer Bankers Association (CBA)1 appreciates the opportunity to submit comments in response to the proposal issued in conjunction with the January 10, 2013 ability-to-repay/qualified mortgage (QM) final rules (the Proposal). The Proposal includes a request for comment on additional clarifications regarding the inclusion of loan originator compensation within the 3 percent...February 22, 2013CFPB Consumer Advisory Board Meeting On Wednesday, February 20, 2013, the CFPB held a public meeting of the Consumer Advisory Board (CAB). The CAB is mandated by Section 1014 of the Dodd-Frank Act to advise and consult with the Bureau in the exercise of its function, and is required to meet at least twice a year. A list of the members can be found on the CFPB website . Though most of the business...