Fair & Responsible Banking

Fair lending principles are embraced by CBA members. Regulatory enforcement, however, is an increasingly complex area of compliance, and has become even more challenging with the intense search at the state and federal levels for 'predatory lending' practices. To encourage self-evaluation, CBA helped establish a privilege for self-testing for fair lending compliance. CBA also is responding to new fair lending guidelines and protecting banks from unnecessary and burdensome small business data collection.
  • June 21, 2017
    June 21, 2017 The Honorable James Mattis Secretary of Defense 1000 Defense Pentagon Washington, DC 20301-1000 Dear Mr. Secretary, As we approach the first anniversary of the implementation of the Department of Defense’s amended Military Lending Act (MLA) Regulation, the Financial Trade Associations – the American Bankers Association, the American Financial Services Association, the Association of...
  • June 21, 2017
    On Friday, June 21, 2017, CBA and other financial trades submitted a letter to the U.S. Department of Defense (DoD) recommending changes to the Military Lending Act (MLA). Specifically, the letter requests the DoD: Clarify the exemption for purchase money loans (including vehicle purchase money loans) applies unless the borrower is receiving cash from the proceeds of the loan. Thus, purchase...
  • May 19, 2017
    May 19, 2017 Ms. Monica Jackson Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street, NW Washington, DC 20552 Via electronic submission Re: Response of the Consumer Bankers Association to the Request for Information Regarding Use of Alternative Data and Modeling Techniques in the Credit Process (Docket No. CFPB-2017-0005) Dear Ms. Jackson, The Consumer Bankers...
  • April 14, 2017
    On Friday, April 14, 2017, the CFPB released its fair lending report for 2016, focusing on the Bureau’s work to protect consumers and better understand issues facing lenders. To this end, the Bureau reports it engaged in significant outreach with industry, civil rights advocates, consumer groups, and other stakeholders to ensure a diverse set of viewpoints are incorporated into it work; protected...
  • December 19, 2016
    On Friday, December 19, 2016, the CFPB released a short statement about its intended fair lending priorities for 2017. The Bureau indicated it plans to focus on redlining, mortgage and student loan servicing, and small business lending. Notably, the statement indicated the Bureau is not going to focus on auto lending and credit cards in the coming year because it has “achieved important progress...
  • October 31, 2016
    On Monday, October 31, 2016, the CFPB released the 13th edition of its Supervisory Highlights . The report revealed, during the review period, recent confidential supervisory resolution resulted in restitution to over 225,000 consumers totaling approximately $11.3 million. Additionally, the CFPB stated its supervisory activities have either led to or supported two recent public enforcement...
  • October 26, 2016
    On Wednesday, October 26, 2016, the OCC issued a responsible innovation framework to “improve the agency’s ability to identify, understand, and respond to financial innovation affecting the federal banking system.” A new Office of Innovation, headed by Acting Chief Innovation Officer Beth Knickerbocker, will serve as the OCC’s central point of contact to respond to requests from industry and...
  • October 13, 2016
    This week, the FDIC issued a press release announcing a meeting of its Advisory Committee on Economic Inclusion has been scheduled for Thursday, October 20, 2016. The group plans to discuss the release and results of the FDIC National Survey of Unbanked and Underbanked Households. Other topics included on the Committee’s agenda include “Initial Lessons from FDIC Youth Savings Pilot,” as well as “...
  • September 27, 2016
    On Tuesday, September 27, 2016, the House Financial Services Financial Institutions and Consumer Credit Subcommittee held a hearing to explore seven bills aimed at improving consumer access to banking services. Subcommittee Chairman Randy Neugebauer (R-TX) shared in his opening statement, “Today’s hearing is important to consider legislation that can have a tremendous impact on consumer credit...
  • July 15, 2016
    On Friday, July 15, 2016, the federal bank regulatory agencies published final revisions to “Interagency Questions and Answers Regarding Community Reinvestment.” The document provides additional guidance to financial institutions and the public on the agencies' Community Reinvestment Act (CRA) regulations. The guidance addresses questions regarding the agencies' CRA regulations in the following...

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