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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.
- August 10, 2018D.C. DOWNLOAD Couldn’t Make the Membership Call? Here’s What You Missed - CBA held a membership call yesterday to offer an update on all things D.C. – ranging from BCFP rulemaking and OCC priorities to the latest updates on CRA, the midterm elections and CBA news. If you missed the call, here is a quick recap: Bureau of Consumer Financial Protection The Senate Banking Committee had scheduled a...
- August 10, 2018On Friday, August 10, 2018, the Bureau announced final amendments to implement legislation allowing financial institutions meeting certain requirements to be exempt from sending annual privacy notices to customers. In December of 2015, Congress amended the Gramm-Leach-Bliley Act (GLBA) as part of the Fixing America’s Surface Transportation Act (FAST Act). The amendment provided financial...August 9, 2018Bloomberg Law August 9, 2018 Banks May Need More Than Trump Push to Offer Small-Dollar Loans By Evan Weinberger It may take more than encouragement from the Trump administration for banks to re-enter the market for small-dollar loans after a five-year absence. Concerns over profitability and shifting political winds could keep banks on the sidelines even though the Treasury Department and the...August 8, 2018On Wednesday, August 8, 2018, a Texas federal judge again turned down a request from the Bureau and two payday lender trade groups to stay the August 2019 compliance date of the agency’s so-called payday rule. U.S. District Judge Lee Yeakel declined Tuesday to reconsider his June order that stayed a lawsuit challenging the rule , nor did he stay the rule’s compliance date.August 7, 2018On Tuesday, August 7, 2018, the Bureau announced that they will be collaborating with 11 financial regulators and related organizations to create the Global Financial Innovation Network (GFIN). The network will seek to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas. It will also create a new...July 27, 2018CBA EBS UPDATE Great Start at CBA Banking School! - Like I said last week, CBA Executive Banking School is a highlight of my year. The energy the students (more than 300 in total with a bumper crop of 137 freshman) and faculty bring is inspiring. I always leave more optimistic than ever about the future of retail banking. EBS, which kicked off on Sunday at Furman University in Greenville, S.C.,...July 20, 2018CBA UPDATE Back to School: CBA Banking School Kicks Off - CBA kicks off our Executive Banking School this weekend at Furman University. We strive to make CBA EBS the go-to place for banks’ rising stars and word is out. The freshman class is nearly 140 strong and we will have close to 100 graduates this year. Traveling to Furman to meet with our banking “students” is an annual highlight as is our...July 16, 2018CBA Submits Comments on Bureau’s Complaint & Inquiry Process Washington, D.C. – The Consumer Bankers Association submitted comments to the Bureau of Consumer Financial Protection’s request for information on the consumer complaint and inquiry handling process. In its letter, CBA discussed ways to make the process more efficient for the Bureau, consumers and financial institutions without...July 16, 2018VIA 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 the Bureau's Consumer Complaint and Consumer Inquiry Handling Processes , Docket No. CFPB-2018-0014 Dear Ms. Jackson, The Consumer Bankers Association (“CBA”) appreciates the opportunity to comment in...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...