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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.
- May 29, 2018WASHINGTON, D.C. – The Consumer Bankers Association today submitted comments on the Bureau of Consumer Financial Protection’s external engagements. The comments are part of the Bureau’s ongoing requests for information. “CBA and its member institutions believe that informed, transparent governing is the best way to produce informed policy that is good for both banks and consumers,” says CBA Vice...
- May 25, 2018BIG WEEK FOR BANKING IN CONGRESS Congress’ Buzzer Beater – With the Memorial Day shot clock winding down, the House of Representatives passed a good, commonsense and bipartisan regulatory reform bill (S. 2155). The bill will help many U.S. banks invest in their communities, workforce and infrastructure. While the legislation makes some meaningful reforms, there is still more to be done. Going...
- May 25, 2018May 23, 2018The Office of the Comptroller of the Currency (OCC) on Wednesday pushed U.S. banks to offer short-term loans to customers with troubled credit histories, a practice shunned by the regulator five years ago. The OCC announced a new policy on short-term, small-dollar loans Wednesday meant to encourage banks to compete in a space now dominated by storefront “payday” lenders with high-interest rates...May 23, 2018Regulator Presses for Revival of Small, Short-Term Loans Trump-appointed regulator wants bank to start making riskier loans to compete with payday lendersMay 21, 2018WASHINGTON – The Consumer Bankers Association, Consumer Mortgage Coalition and Financial Services Roundtable today submitted comments on the supervision process at the Bureau of Consumer Financial Protection. The comments are part of the Bureau’s ongoing requests for information. “CBA and CBA member banks have always supported the Bureau’s mission and believe regulatory supervision is an...May 21, 2018May 21, 2018 VIA EMAIL AND COURIER 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 Supervision Program, Docket No. CFPB-2018-0004 Dear Ms. Jackson, The Financial Services Roundtable,1 the Consumer Bankers Association,2 and the Consumer Mortgage Coalition3 (collectively...May 18, 2018WASHINGTON HAPPENINGS In a Fortnight – Two Items on CBA’s watch list ahead of Memorial Day include: A House Vote on Senate Banking Bill – The Senate’s regulatory relief bill, which CBA supports, is expected to receive a vote in the House this Tuesday, May 22 . McWilliams Confirmation as FDIC Head – President Trump’s nominee to head the FDIC Jelena McWilliams is expected to receive a confirmation...May 18, 2018May 18, 2018 The Honorable Paul Ryan Speaker U.S. House of Representatives H-232, U.S. Capitol Washington, D.C. 20515 The Honorable Nancy Pelosi Minority Leader U.S. House of Representatives H-204, U.S. Capitol Washington, DC 20515 Dear Speaker Ryan and Minority Leader Pelosi: On behalf of the Consumer Bankers Association (CBA), I write to express our support for S. 2155, the Economic Growth,...May 14, 2018May 14, 2018 VIA EMAIL AND COURIER Monica Jackson Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street NW Washington, DC 20552 Re: Request for Information Regarding Enforcement Processes, Docket No. CFPB-2018-0003 Dear Ms. Jackson, The Financial Services Roundtable,  Consumer Bankers Association,  and Consumer Mortgage Coalition  (collectively, the...