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 27, 2016
    On Monday, June 27, 2016, the Supreme Court denied certiorari to review the Second Circuit Court of Appeals’ decision in Madden v. Midland Funding . This class action case alleges Midland Funding, a debt buyer, violated state usury laws and the Fair Debt Collection Practices Act (FDCPA) when it attempted to collect on debt it had purchased from FIA Card Services, N.A. In a controversial decision...
  • June 15, 2016
    On Wednesday, June 15, 2016, CBA submitted a comment letter in response to the FDIC’s “Request for Comment on Mobile Financial Services (MFS) Strategies and Participation in Economic Inclusion Demonstrations.” In the letter, CBA addressed each of the six strategies the FDIC identified in their original request about potential ways to employ MFS to better meet consumer needs. Also, CBA recommended...
  • June 15, 2016
    On Wednesday, June 15, 2016, FDIC Chairman Martin Gruenberg spoke to the Exchequer Club in Washington, D.C. about “The Impact of Post-Crisis Reforms on the U.S. Financial System and Economy.” In his speech, he analyzed four broad areas that measure economic health: 1. Credit availability; 2. Bank profitability; 3. Market liquidity; and 4. Distribution between banks and nonbanks. Overall, he...
  • May 31, 2016
    May 31, 2016 Submitted Electronically: innovation@occ.treas.gov The Honorable Thomas J. Curry Comptroller of the Currency Office of the Comptroller of the Currency 4007 th Street, NW Washington, D.C., 20219 Re: Supporting Reasonable Innovation in the Federal Banking System Dear Comptroller Curry, The Consumer Bankers Association (CBA) [1] appreciates the opportunity to provide our comments in...
  • May 25, 2016
    On Wednesday, May 25, 2016, the FDIC held a meeting of its Advisory Committee on Economic Inclusion to discuss ways mobile financial services (MFS) can be used to bring underserved consumers into the banking industry. In a report released the same day, FDIC researchers offered “seven core financial services needs” for underserved consumers: control over finances, access to money, convenience,...
  • May 13, 2016
    On Tuesday, May 11, 2016, the U.S. Treasury Department published a white paper addressing the emerging marketplace lending sector of finance. Entitled: “Opportunities and Challenges in Online Marketplace Lending,” the document follows a Request for Information (RFI) issued in late 2015. Treasury described the document as a process to better understand the potential opportunities and risks...
  • May 10, 2016
    Marketplace lenders need to be more transparent about their business practices and should be subject to additional oversight from federal regulators, according to a U.S. Treasury study released just as the industry grapples with market turmoil and a scandal facing one of the biggest lenders. Online lenders need to develop a public database for tracking data on their loans, and companies that lend...
  • May 10, 2016
    Marketplace lenders need to be more transparent about their business practices and should be subject to additional oversight from federal regulators, according to a U.S. Treasury study released just as the industry grapples with market turmoil and a scandal facing one of the biggest lenders. Online lenders need to develop a public database for tracking data on their loans, and companies that lend...
  • May 10, 2016
    Marketplace lenders need to be more transparent about their business practices and some should be subject to additional oversight from U.S. regulators, according to a Treasury Department study released as the industry grapples with market turmoil and a scandal involving one of its leading firms . Companies in the burgeoning industry need to develop a public database for tracking data on their...
  • May 10, 2016
    Marketplace lenders need to be some-more pure about their business practices and some should be theme to additional slip from U.S. regulators, according to a Treasury Department investigate expelled as a courtesy grapples with marketplace misunderstanding and a liaison involving one of a leading firms . Companies in a burgeoning courtesy need to rise a open database for tracking information on...

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