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CBA is committed to the goal of expanding financial education and improving consumers' understanding of the complexities of consumer financial services-whether in mortgages, credit cards, student loans, deposit products, or all the myriad ways in which consumers interact with financial services in this complex economy.
- September 22, 2017September 20, 2017 Secretary of Education Betsy DeVos U.S. Department of Education C/O Ms. Hilary Malawer 400 Maryland Avenue, SW., Room 6E231 Washington, DC 20202 RE: Regulatory Review - Docket ID: ED-2017-OS-0074, Docket Number 2017-13157 Dear Secretary DeVos: The Consumer Bankers Association  and the American Bankers Association  (“the Associations) appreciate the opportunity to submit...
- March 2, 2017On Thursday, March 2, 2017, during the CFPB Consumer Advisory Board meeting, the Bureau announced the release of a list of institutions offering free credit scores to consumers. This list was created following a 2016 Federal Register notice requesting that companies inform the Bureau whether they provide free credit reports. Companies wishing to be added to the list may email FinancialEducation@...January 17, 2017On Tuesday, January 17, 2017, the White House, through the National Economic Council, released a white paper advocating for the U.S. government to engage in efforts to promote the financial technology industry. The paper commended initiatives such as the CFPB’s Project Catalyst and the OCC’s Responsible Innovation as examples of financial regulators modernizing how they engaged with the industry...December 15, 2016On Thursday, December 15, 2016, at the 2016 CFPB Research Conference, Director Richard Cordray announced a web-based tool to help the public monitor developments in consumer lending and track trends over time. The “ Consumer Credit Trends ” tool, which currently is in the beta stage, covers mortgage, credit card, auto loan, and student loan markets, and uses data from one of the top three...November 18, 2016Trump’s Short List Includes Individuals with Banking Experience A lot of names are being tossed around for top positions in the Trump Administration. As it relates to banking, here is what we know so far: Steven Mnuchin , a former Goldman Sachs Banker, Jamie Dimon , CEO of JPMorgan, and Rep. Jeb Hensarling (R-TX), House Financial Services Committee Chair, are reportedly the leading candidates for...October 31, 2016On Friday, October 31, 2016, the CFPB released its 2016 Financial Literacy Report and “ one-pager .” The report outlines the Bureau’s financial literacy strategy, financial education initiatives, and research initiatives. In terms of education initiatives, the CFPB discusses the following resources: Ask CFPB, Paying for College, Planning for Retirement, Know Before You Owe: Take control of your...October 13, 2016This 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 7, 2016On Wednesday, September 7, 2016, the Wall Street Journal reported the findings from a forthcoming FDIC “Unbanked and Underbanked” survey, to be released in October 20, 2016. A product of 36,189 respondents, the survey explored underbanked households, which saw little change at 19.9 percent in 2015, compared to 20 percent in 2013.September 7, 2016On Wednesday, September 7, 2016, the CFPB unveiled new resources for financial educators. A report entitled: “Building Blocks to Help Youth Achieve Financial Capability,” offered a financial capability developmental model and recommendations for financial education. Based on the developmental framework described in the report, the Bureau also released a personal finance pedagogy , a teaching tool...July 15, 2016On Friday, July 15, 2016, the CFPB published a report about “Financial education programs serving immigrant populations,” in follow up to a November of 2015 CFPB Consumer Advisory Board meeting . The Bureau conducted a field scan of financial education programs serving immigrant populations, which indicated financial educators employ many promising strategies, but face many challenges...