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.
  • July 2, 2018
    Submitted 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...
  • June 29, 2018
    D.C. DOWNLOAD Senate Hearing Set for Kraninger’s BCFP Nomination – Late yesterday the Senate Banking Committee announced Kathy Kraninger’s confirmation hearing had been scheduled for Thursday, July 19. This is the first of several steps in the Senate. After the hearing, the Committee will schedule a vote on her nomination before sending it to the full Senate for final confirmation. Senate rules...
  • June 29, 2018
    On June 29, 2018, the Bureau of Consumer Financial Protection (BCFP) announced it had settled with Citibank for alleged Truth in Lending Act violations which the company self-reported to the agency. According to the consent order , the Bureau claims the company failed to reevaluate and lower the annual percentage rates (APRs) for approximately 1.75 million consumer credit card accounts and did...
  • June 27, 2018
    The Consumer Bankers Association (CBA) offered Monday feedback on requests for information regarding inherited regulations and new rulemaking authorities. The submission stems from the Consumer Financial Protection Bureau seeking input on the guidelines, with CBA focusing on the need for the Bureau to ensure rules reflect changes in technology and consumers bank methods. CBA also commented on...
  • June 25, 2018
    On Monday, June 25, 2018, CBA submitted comments to the Bureau of Consumer Financial Protection’s request for information on inherited regulations and new rulemaking authorities. In the letter, CBA’s comments focused on the need for the Bureau to ensure rules reflect changes in technology and the ways consumers’ bank. CBA also commented on rules ripe for reform and re-examination. “CBA greatly...
  • June 25, 2018
    CBA Submits Comments on BCFP Inherited Regulations and Rulemaking Washington, D.C. – The Consumer Bankers Association submitted comments to the Bureau of Consumer Financial Protection’s request for information on inherited regulations and new rulemaking authorities. In the letter, CBA’s comments focused on the need for the Bureau to ensure rules reflect changes in technology and the ways...
  • June 25, 2018
    June 25, 2018 Submitted via regulations.gov Monica Jackson, Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street NW Re: Request for Information Regarding the Bureau’s Inherited Regulations and Inherited R ul ema king Authorities (Docket No. CFPB-2018-0012) Dear Ms. Jackson, The Consumer Bankers Association1 (“CBA”) appreciates the opportunity to comment on the...
  • June 22, 2018
    D.C. DOWNLOAD Court Rules Bureau’s Structure Unconstitutional – The U.S. District Court of the Southern District of New York ruled yesterday the Bureau "unconstitutionally structured." The opinion was in the case of CFPB v. RD Legal Funding, LLC et al. Whether the decision, which disqualified the Bureau as a plaintiff in the case, will be appealed depends on a number of factors. However, it is...
  • June 21, 2018
    CBA Statement on Court BCFP Structure Ruling Ruling latest example of need for bipartisan commission at Bureau WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the U.S. District Court of the Southern District of New York ruled the Bureau of Consumer Financial Protection's structure is unconstitutional: “The court’s ruling further proves...
  • June 21, 2018
    A federal district judge ruled Thursday that the structure of the Consumer Financial Protection Bureau (CFPB) violates the Constitution, countering a January ruling from a federal appeals court. Judge Loretta Preska of the Southern District of New York ruled that the CFPB’s creation as an independent agency with a director that could only be dismissed for wrongdoing was unconstitutional. In...

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