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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 13, 2018D.C. DOWNLOAD Commission Bill Adds Two – Breaking News: Bipartisanship in Congress is not dead. This week, Reps. Gregory Meeks (D-N.Y.) and Sean Duffy (R-Wis.) became the eighth and ninth cosponsors of a bipartisan bill in the House of Representatives to create a Senate-confirmed, bipartisan commission at the Bureau of Consumer Financial Protection. The bill was introduced while we were at CBA...
- July 12, 2018“Banks have long supported community financial education efforts and have provided free financial education tools through multiple channels to all consumers, regardless of a bank-customer relationship,” David Pommerehn, CBA vice president and associate general counsel, said. “Most importantly, CBA strongly urges the Bureau to focus more attention on youth-based education opportunities...
- July 10, 2018On July 9, President Trump announced that U.S. Circuit Court of Appeals for the District of Columbia Judge Brett Kavanaugh would be his nominee to replace Justice Anthony Kennedy on the Supreme Court of the United States (SCOTUS). Ultimately, we expect Judge Kavanaugh to win confirmation and consequently cement a reliably conservative majority on the SCOTUS. We include below four brief...
- July 9, 2018On Monday, July 9, 2018, CBA submitted comments to the Bureau of Consumer Financial Protection’s request for information on its financial education programs. To complement the work already being done by banks, CBA recommended the Bureau partner with community organizations, like churches and youth centers, as well as the U.S. Department of Education to ensure financial literacy resources help...July 9, 2018July 9, 2018 VIA Electronic Submission Monica Jackson Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street NW Washington, DC 20552 Re: Request for Information Regarding Bureau Financial Education Programs , Docket No. CFPB-2018-0015 Dear Ms. Jackson, The Consumer Bankers Association (“CBA”) appreciates the opportunity to comment in response to the Bureau of...July 9, 2018CBA Submits Comments on Bureau Financial Education Programs Working with the Department of Education and local groups, Bureau could promote financial literacy as early as preschool Washington, D.C. – The Consumer Bankers Association submitted comments to the Bureau of Consumer Financial Protection’s request for information on its financial education programs. To complement the work already being...July 6, 2018CBA Statement on BCFP Leadership Washington, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after Bureau of Consumer Financial Protection Deputy Director Leandra English announced her resignation: “The transition of power at the Bureau was a circus and we could possibly witness it again in five years unless a bipartisan commission is created to...July 6, 2018D.C. DOWNLOAD No Rest for the Weary with Bureau’s Comment Letters – CBA’s legal team was busy this week working with members to put the final touches on the Bureau of Consumer Financial Protection’s latest RFI. We submitted comments on the Bureau’s Guidance & Implementation process this Monday and focused on two main goals: first, ensuring the guidance process is transparent and, second,...July 6, 2018On July 2, 2018, CBA submitted comments to the Bureau of Consumer Financial Protection’s request for information (RFI) on regulatory and rule guidance and implementation support. The comments focused on ensuring the guidance process is transparent and does not inappropriately circumvent appropriate rulemaking. “CBA’s members frequently rely on the Bureau’s guidance and implementation support to...July 2, 2018Submitted via regulations.gov Monica Jackson, Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street NW Re: Request for Information Regarding Bureau Guidance and Implementation Support Dear Ms. Jackson, The Consumer Bankers Association (“CBA”) appreciates the opportunity to comment on the Bureau of Consumer Financial Protection’s (“Bureau”) guidance and...