Comment Letters
September 26, 2023Dear Senators Reed and Merkley: The undersigned trade associations, representing financial institutions that serve hundreds of millions of American consumers, are united in opposition to proposals that would limit the fees and interest charged on consumer loans through a national fee and interest rate cap of 36 percent. Small dollar loans, credit cards, and other forms of short term credit are...
September 20, 2023Dear Senator Hawley: The undersigned trade associations, representing financial institutions that serve hundreds of millions of American consumers, are united in opposition to S. 2760, the Capping Credit Card Interest Rates Act and its consideration to be included as an amendment to the minibus appropriations bill currently being considered in the Senate. As not-for-profit credit unions,...
September 8, 2023Dear Chairman Williams and Ranking Member Velázquez: As the leading organizations representing virtually all the thousands of lenders participating in the U.S. Small Business Administration (SBA) 7(a) loan program, we write to strongly encourage you to work toward a bipartisan solution in response to issues arising from recent policy changes made to the 7(a) program by SBA, and to identify the...
September 5, 2023To Whom it May Concern: The Consumer Bankers Association (“CBA”) sends this letter in response to the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) Director Rohit Chopra’s remarks at the White House Roundtable on Protecting Americans from Harmful Data Broker Practices and additional details released on the scope of CFPB’s forthcoming Small Business and Regulatory Enforcement and...
August 21, 2023To Whom It May Concern: The Mortgage Bankers Association (MBA) and the Consumer Bankers Association thank the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (the Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (CFPB), and Federal Housing Finance Agency (FHFA...
August 18, 2023Dear Director Chopra, The American Financial Services Association (AFSA), Consumer Bankers Association (CBA), CRE Finance Council (CREFC), Equipment Leasing and Finance Association (ELFA), Mortgage Bankers Association (MBA), National Association of Federally-Insured Credit Unions (NAFCU), Truck Renting and Leasing Association (TRALA), and the U.S. Chamber of Commerce (Chamber) (together, the “...
August 9, 2023The American Bankers Association (ABA), ACA International, American Financial Services Association, Consumer Bankers Association, Credit Union National Association, Mortgage Bankers Association, National Association of Federally-Insured Credit Unions, National Council of Higher Education Resources, and Student Loan Servicing Alliance (the Associations) appreciate the opportunity to comment on the...
July 26, 2023Dear Chairman Warnock and Ranking Member Tillis: The Consumer Bankers Association (CBA) is pleased to submit this letter for the hearing entitled “Taking Account of Fees and Tactics Impacting Americans’ Wallets” focused on fees assessed to consumers for banking and non-banking products. CBA is the voice of the retail banking industry whose products and services provide access to credit to...
July 19, 2023Dear Chairman Cardin and Ranking Member Ernst: As the leading organizations representing virtually all of the thousands of lenders participating in the U.S. Small Business Administration’s (SBA) 7(a) loan program, we write to express our appreciation for your leadership in responding to issues arising from recent policy changes made to the 7(a) program by SBA. We support the mission of the 7(a)...
Joint Trades Extension Request for Small Business Advisory Review Panel for Consumer Reporting Rulemaking