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.
  • September 7, 2023
    In a new letter sent to the Consumer Financial Protection Bureau (CFPB or Bureau), the Consumer Bankers Association (CBA) highlighted the important use of information – that the Bureau may define as ‘credit header data’ – by banks for identity verification and fraud prevention. The letter also details the ways in which these consumer protection measures by banks may be impacted by defining this...
  • August 31, 2023
    What’s Happening The financial services ecosystem has rapidly evolved over the past decade, driven largely by the growth of fintechs and other non-bank entities increasingly offering products and services that have traditionally only been offered by well-regulated banks. This is especially true today in the peer-to-peer (P2P) payments market, which is largely controlled by fintech companies like...
  • July 25, 2023
    In a new letter sent to the U.S. Senate Subcommittee on Financial Institutions and Consumer Protection, the Consumer Bankers Association (CBA) reiterated opposition to the Biden Administration’s ongoing “junk fee” campaign that misrepresents well-regulated bank fees. In the letter, which comes ahead of a scheduled Subcommittee hearing tomorrow, CBA specifically addresses recent actions from the...
  • July 21, 2023
    The White House this week marked the second anniversary of President Biden’s Executive Order on Promoting Competition in the American Economy by highlighting some of the initiatives taken by the Administration to lower costs for consumers. These items included the forthcoming rulemaking by the Consumer Financial Protection Bureau (CFPB) to implement Section 1033 of the Dodd-Frank Act , raising...
  • July 10, 2023
    SUMMARY OF ARGUMENT: The Bureau’s funding scheme is historically unique—and unconstitutional. The Bureau is endowed with “vast authority.” Seila Law LLC v. CFPB, 140 S. Ct. 2183, 2210 (2020). Its jurisdiction encompasses not only consumer financial-services companies, but also individuals and businesses that engage in any of ten specified consumer financial activities that are common throughout...
  • July 6, 2023
    The Consumer Bankers Association (CBA) this week submitted a comment letter to the Consumer Financial Protection Bureau (the Bureau) regarding its Statement of Policy Regarding Prohibition on Abusive Acts or Practices (the Policy Statement). In the letter, CBA reiterated longstanding concerns that the Bureau is utilizing guidance and policy statements as a substitute to formal rulemakings when...
  • July 3, 2023
    Dear Director Chopra: The Bank Policy Institute, American Financial Services Association, Consumer Bankers Association, Credit Union National Association, Mortgage Bankers Association, and the U.S. Chamber of Commerce are providing these comments in response to the Consumer Financial Protection Bureau’s Statement of Policy Regarding the Prohibition on Abusive Acts or Practices (Docket No. CFPB–...
  • July 3, 2023
    To Whom it May Concern: The Consumer Bankers Association (“CBA”)1 appreciates the opportunity to submit comments2 to the Consumer Financial Protection Bureau (the “Bureau”) in response to the policy statement regarding the prohibition on abusive acts or practices (the “Policy Statement”).3 We would like to thank Director Rohit Chopra for recognizing CBA as a leading voice of the financial...
  • June 20, 2023
    Consumer Bankers Association (CBA) President and CEO Lindsey Johnson sat down with Capitol Account for a conversation about the direction of the Consumer Financial Protection Bureau (CFPB) and pressing policy issues facing the industry today, from credit card late fees to Section 1071, fraud, and more. The interview appeared in the outlet’s trademark “Friday Q&A” and comes ahead of Johnson’s...
  • June 16, 2023
    Lawmakers on both sides of the aisle and in both chambers of Congress this week joined the Consumer Bankers Association’s (CBA) call for the Consumer Financial Protection Bureau (CFPB) to be part of a whole-of-government investment in consumer education initiatives focused on scam identification and prevention. During CFPB Director Rohit Chopra’s Semi-Annual Report to the Senate Banking Committee...

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