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 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...
  • March 6, 2015
    CFPB Director Testifies Before House Financial Services Committee On Tuesday, March 3, 2015, CFPB Director Richard Cordray testified before the House Financial Services Committee (HFSC) and provided the Bureau's Semiannual Report to Congress . In his opening statement, Director Cordray summarized the Bureau's activities for the previous six months including highlighting enforcement actions, some...
  • March 4, 2015
    The Consumer Bankers Association (CBA) and AOL Inc. (AOL) monthly Finance Optimism Index rose to 6.8 in January, climbing from 0.0 in December, 2014 showing rising consumer financial optimism at an all-time high. Americans’ increased optimism about their personal financial future is driven primarily by an increase in the feeling that news they've been hearing lately about personal finances is...
  • February 27, 2015
    Regulators Release Guidance to Encourage Youth Savings Programs On Wednesday, February 25, 2015, the Financial Literacy Education Commission ( FLEC ) held a public meeting at the U.S. Department of Treasury in Washington, D.C., which focused on youth savings programs, and highlighted partnerships between the public and private sector to encourage strong financial skills in young people. The...

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