Financial Education

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.
  • April 24, 2015
    CFPB, FTC Bring Enforcement Action Against Green Tree Servicing On Wednesday, April 22, 2015, the CFPB and the Federal Trade Commission (FTC) entered into a preliminary consent agreement with Green Tree Servicing. The agencies allege the national mortgage servicer harmed distressed borrowers in violation of the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, and the Fair...
  • April 22, 2015
    Young adults spend less on groceries, but eat out more. New Yorkers are suckers for a fancy brand name, Bostonians love giving gifts and Floridians want to get money advice from Warren Buffett. Respondents under the age of 35 have the most financial confidence of any age bracket. They’re less likely to use the words “conservative” or “cautious” to describe their approach to saving, and they’re a...
  • April 14, 2015
    Citizens Helping Citizens Manage Money Program Focuses on Helping Low-Income Families in West Philadelphia Today, the Consumer Bankers Association (CBA) announced Citizens Bank (NYSE: CFG) as the winner of the fifth annual Joe Belew Award, which honors community programs at CBA's member banks. In keeping with the theme of this year’s CBA LIVE, “The Consumer Agenda,” CBA presented the award to its...
  • April 10, 2015
    Bureau Issues Consent Order for Mortgage Advertisements On Thursday, April 9, 2015, the CFPB entered into a consent order with RMK Financial Corporation, also doing business as Majestic Home Loans, to resolve allegations of deceptive mortgage advertising. As a result of the order, RMK will be prohibited from falsely implying government affiliation in future advertisements and pay $250,000 in...
  • April 10, 2015
    CFPB's TRID Rule Fast Approaching With the TILA-RESPA Integrated Disclosure (TRID) rule just around the corner, our member banks are concerned about the impact of a short turnaround time, especially given the small window for testing and training. I have spoken with some members whose vendors have had to push back their delivery dates, making the matter more difficult. CBA is encouraging the CFPB...
  • March 26, 2015
    The Consumer Bankers Association (CBA) and AOL Inc. (AOL) monthly Finance Optimism Index rose to 9.0 in February, climbing from 6.8 in January, marking the second consecutive month with consumer financial optimism at an all-time high. Again this month, Americans’ increased optimism about their personal financial future is driven primarily by an unwavering feeling that news they've been hearing...
  • March 23, 2015
    At CBA LIVE 2015 Gallup Reveals “Trust, Engagement and Exceptional Omnichannel” Consumer trust in security and technology is key to the adoption of technology channels and digital wallets Consumers “want it all,” with every physical and digital touchpoint important to customer engagement Distribution network and technology lag behind in driving perceived “excellent value”; consumers want a...
  • March 22, 2015
    The Consumer Bankers Association (CBA) will host nearly 1350 retail banking executives, including attendees from more than 65 national and regional banks at the Hilton Orlando Bonnet Creek in Orlando, FL from March 23 – 25, 2015, for CBA LIVE 2015: The Consumer Agenda, the premier annual conference for retail banking industry leaders. “With our biggest audience ever, this year’s CBA LIVE will...
  • March 20, 2015
    CFPB Finalizes Policy on Consumer Complaint Narratives On Thursday, March 19, 2015, the CFPB announced it had finalized policy to allow for the inclusion of unverified consumer complaint narratives into its Consumer Complaint Database. With input from its membership, CBA responded to the CFPB requests for public comment on this issue in September of 2014. In its press release, the Bureau...
  • March 13, 2015
    CFPB Holds Field Hearing on Arbitration On Tuesday, March 10, 2015, the CFPB held a public field hearing in Newark, N.J., to discuss the use of arbitration agreements in consumer financial products and services; Dong Hong, CBA's Vice President and Regulatory Counsel, served as a panelist at the hearing. In conjunction with the field hearing, the CFPB issued its report on mandatory pre-dispute...

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