Consumer Protection

CBA in the News
September 14, 2018
Financial Sector Data Breach Bill Wins House Panel Approval
Financial trade organizations voiced support for the bill in a Sept. 12 joint letter to the committee. The groups, including the American Bankers Association, the Consumer Bankers Association, and the Credit Union National Association, said they backed committee action on the bill as a step toward comprehensive data breach legislation for all entities that collect and use sensitive personal and...
Bank Note
September 6, 2018
Agencies Extend Comment Period for Proposed Rule Simplifying and Tailoring the “Volcker Rule”
On Tuesday, September 4, 2018, five federal financial regulatory agencies issued a joint press release extending until October 17, 2018, the comment period for a proposed rule to simplify and tailor compliance requirements for the “Volcker Rule.” The Volcker Rule generally restricts banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity...
Bank Note
September 6, 2018
FDIC 18th Annual Bank Research Conference
On Thursday, September 6, 2018, the 18 th Annual Bank Research Conference at the FDIC commenced with Chairman McWilliams’ opening remarks. The conference was strictly academic but prestigious and competitive within the field of economics; this year over 450 papers were received and only 20 were selected for presentation. Below are highlights from the remarks: Chairman McWilliams kicked off the...
Bank Note
August 10, 2018
Bureau Updates Regulation P, Implements Legislation Amending GLBA
On 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...
Comment Letter
July 31, 2018
CBA, Trades Issue Letter on Data Breaches
July 31, 2018 The Honorable Bob Latta Chairman Subcommittee on Digital Commerce and Consumer Protection 2125 Rayburn House Office Building Washington, DC 20515 Dear Chairman Latta: We sincerely appreciate the opportunity to participate in your discussions over the last several months about data breach legislation. Data security breaches continue to put millions of consumers at risk, and we share...
Bank Note
June 6, 2018
CBA’s Hunt Testifies at House Subcommittee Hearing on BCFP Reforms
On Wednesday, June 6, 2018, the House Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing on improving transparency and accountability at the Bureau of Consumer Financial Protection. In the Bureau’s Semi-Annual Report to the President and Congress in April, Acting Director Mulvaney requested that Congress enact four changes to establish greater...