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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.
- November 4, 2015As 2015 winds down, Wall Street is looking forward to a holiday. Not the kind that families around the world celebrate on Dec. 25, but that uniquely Washington kind of celebration in which gifts, in the form of bank-friendly legislation, get hung on “Christmas trees” — Capitol Hill slang for big, must-pass bills. The twist these days is there’s a grinch named Sen. Elizabeth Warren who is...
- November 2, 2015Democratic presidential candidate Hillary Clinton demonstrated last week on "The Late Show With Stephen Colbert" that when it comes to economic issues, she's as adept at playing the populist card as her close rival, self-described Democratic Socialist Bernie Sanders. Prompted by Colbert's comment, "Can you at least just get back from [banks] the $3 they charge us to take $20 out of an ATM machine...
- October 28, 2015In a town where access equals power, an army of lobbyists thousands strong battles daily to help shape virtually every piece of legislation introduced in Congress and policy decision handed down by the federal government. But only a select few have earned a spot on The Hill’s Top Lobbyists list. Those named to this year’s list have climbed to the top of their profession, demonstrating an ability...
- October 27, 2015October 27, 2015The government is making it harder for financial institutions to market their products to one of the most captive — and lucrative — audiences: College students. Under new rules announced by the Department of Education Tuesday, colleges that partner with financial institutions to disburse financial aid funds will be required to ensure that students have a choice in the way they receive those funds...October 23, 2015Bureau's Consumer Advisory Board Talks LEP Consumers, Arbitration On Thursday, October 22, 2015, the CFPB Consumer Advisory Board met to discuss ways to serve limited English proficiency (LEP) consumers and the agency's recent arbitration actions. The Bureau indicated its Education and Engagement Division published a Glossary of Financial Terms and Newcomer Guides in different languages to help...October 23, 2015Dodd-Frank Again Forces Big Banks to Subsidize Smaller Banks As anticipated, on Thursday, the Federal Deposit Insurance Corporation (FDIC) outlined a plan to implement Dodd-Frank's requirement to raise the agency's fund from 1.15% to 1.35%. For banks with at least $10 billion in assets, the proposal consists of a two year, 4.5 basis point surcharge on their assessment base (beginning in 2016)...October 16, 2015Jeb Bush is leading the U.S. presidential campaign by at least one measure: financial support from Wall Street. The former Florida governor who is seeking the Republican presidential nomination received more financial backing than any competitor - Democrat or Republican - from employees of the major Wall Street banks between July and the end of September, campaign filings released on Thursday...October 16, 2015CFPB Finalizes HMDA Rule On Thursday afternoon, the Bureau finalized its rule and reporting requirements for the Home Mortgage Disclosure Act (HMDA). Though I haven't yet made it through the nearly 800-page rule , here are some key points—both good and bad—to note. The good : It seems the CFPB learned from the TILA-RESPA Integrated Disclosure (TRID) fiasco by permitting generous implementation...October 8, 2015We learn a lot from our parents, especially as we get older. We are learning about independence, and as graduation grows nearer we are learning more and more about financial independence. The most basic question you have to figure out is where to put your money. This question isn’t as obvious as it seems - banks are not your only option. Another very promising place to keep your money safe is a...