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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.
- October 23, 2018On Tuesday, October 23, 2018, the Bureau released a complaint snapshot compiling consumer complaint database data from January 1, 2015 to June 30, 2018. More than 30% of total complaints were from California, Florida and Texas, though the District of Columbia had the most complaints per capita. Between January 2017 and June 2018, the Bureau has received 494,540 complaints. The Bureau noted...October 19, 2018My top takeaway this week … On Wednesday, Comptroller of the Currency Joseph Otting spent a lot of time discussing CRA modernization efforts during his talk to the Exchequer Club here in D.C. He made three key points: he is committed to CRA modernization, calling it the "Number one reason" he came to Washington ; branches are not obsolete , but the current assessment area framework can restrict...October 17, 2018Today, October 17, the Federal banking regulators released its latest (Fall) unified regulatory agenda . The highlights for the Bureau of Consumer Financial Protection include: Continuation of Existing Rulemaking The Bureau announced in January 2018 that it intends to engage in a rulemaking to reconsider a 2017 rule titled Payday, Vehicle Title, and Certain High-Cost Installment Loans which has a...October 10, 2018On Wednesday, October 10, 2018, CBA along with ABA and the U.S. Chamber of Commerce submitted a joint comment letter to the BCFP in response to its trial disclosure proposal. We are supportive of changes to the trial disclosure program as the current framework offers few incentives or protections for participating companies. In our letter, CBA asks the Bureau to provide greater protections for...October 10, 2018Mr. Paul Watkins Assistant Director, Office of Innovation Bureau of Consumer Financial Protection 1700 G Street NW Washington, DC 20552 Re: Docket No. CFPB-2018-0023 – Policy to Encourage Trial Disclosure Programs Dear Mr. Watkins: The U.S. Chamber of Commerce,1 the American Bankers Association,2 and the Consumer Bankers Association3 appreciate the opportunity to comment on the proposal (Proposal...October 5, 2018D.C. DOWNLOAD CBA CFPB Committee & Small Business Committee In-Person Meetings: This week, CBA HQ hosted two more in-person committee meetings: CFPB and its subcommittee, Consumer Complaints, as well as Small Business! Below are updates: CFPB: CBA’s CFPB Committee focuses on all Bureau-related issues and such as enforcement, regulatory coordination and data collection. We thanked Cindy Reeves...September 28, 2018This week, Citi held their first CBA OnSite Education: MarketSim , led by Paul Leventhal , at its NYC location! This one-of-a-kind replica of a retail bank marketplace leverages a simulation to deepen understanding of the risk/reward trade-offs in developing a retail strategy, integrating customer segmentation, product offerings, pricing, delivery channels, marketing and branding. Interested in...September 21, 2018D.C. DOWNLOAD Hurricane Florence Efforts: Banks are stepping up once again to help those impacted by natural disasters. Bank of America, Wells Fargo, Fifth Third, JPMorgan Chase, Bank OZK and Regions are among the many CBA members lending a hand and offering monetary support. CBA Default Management Committee (DMC) & Auto Finance Committee In-Person Meetings: This week, CBA HQ hosted the first...September 12, 2018CBA Announces Board Leadership Team, Sets Advocacy Agenda for Upcoming Year Todd Barnhart of PNC Bank becomes chair; Nitin Mhatre of Webster named Chair-Elect Listen to Barnhart discuss CBA’s Priorities, Changes in Industry Regulations Over the Last Decade on CBA’s Suite 550 Podcast, Available Here WASHINGTON – Heading into its 100th year, the Consumer Bankers Association (CBA) has elected Todd...September 7, 2018D.C. DOWNLOAD *CBA's thoughts and prayers are with our friends at Fifth Third Bank HQ, the Cincinnati community and all member banks impacted by this tragedy.* CBA Leadership Summit: I have a lot of “favorite times” of the year – CBA LIVE, Executive Banking School, in-person committee meetings… The list goes on. One of them is happening next week here at CBA HQ as the entire team gears up to host...