Legislative Activity
June 16, 2023Lawmakers on both sides of the aisle and in both chambers of Congress this week joined the Consumer Bankers Association’s (CBA) call for the Consumer Financial Protection Bureau (CFPB) to be part of a whole-of-government investment in consumer education initiatives focused on scam identification and prevention. During CFPB Director Rohit Chopra’s Semi-Annual Report to the Senate Banking Committee...
June 12, 2023In new letters sent to the Senate Banking Committee and House Financial Services Committee ahead of the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress this week, the Consumer Bankers Association (CBA) outlined legislative and regulatory recommendations necessary to fulfill the Bureau’s responsibility of protecting consumers and supporting a competitive financial...
June 8, 2023Dear Chairman McHenry and Ranking Member Waters: The Consumer Bankers Association (CBA) submits the following comments for the hearing entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” We appreciate the committee’s continued oversight of the Consumer Financial Protection Bureau (CFPB or Bureau) and its activities. CBA is the voice of the retail banking industry...
May 30, 2023The Consumer Bankers Association (CBA) and other leading financial trades today issued the following statement on the recently announced agreement to raise the federal debt ceiling: “We are encouraged that the Administration and Congressional leaders have reached a bipartisan agreement to raise the federal debt ceiling. America’s capital markets are the strongest, deepest, and most liquid in the...
May 10, 2023Dear Chairman Womack and Ranking Member Hoyer: The Consumer Bankers Association (CBA) respectfully submits this letter for the subcommittee’s consideration of fiscal year 2024 Financial Services and General Government (FSGG) appropriations. CBA is the voice of the retail banking industry whose products and services provide access to credit to millions of consumers and small businesses. Our...
May 10, 2023On behalf of the Consumer Bankers Association (CBA), I write to express our support for S. 1362, the Transparency in CFPB Cost-Benefit Analysis Act. This bill is an important component of CFPB reform and will help ensure the Bureau’s policies are grounded in sound data and evidence. Cost-benefit analysis is an important tool for regulators to use to balance the costs of implementing and complying...
April 25, 2023Dear Chairman McHenry and Ranking Member Waters: The Consumer Bankers Association (CBA) submits this letter for the committee’s April 26, 2023 markup of bills. We appreciate the committee’s attention to meaningful CFPB reforms to ensure a safe and well-functioning financial services marketplace. CBA is the voice of the retail banking industry whose products and services provide access to credit...
April 14, 2023Dear Chairman McHenry and Ranking Member Waters: The undersigned trade associations write regarding the increasing threat credit repair scams pose to consumers and the credit markets. 1 Credit repair organizations exploit the most vulnerable Americans and inundate creditors and credit bureaus with meritless and duplicative claims that information in a credit report is inaccurate. These activities...
April 10, 2023The Consumer Bankers Association (CBA) and Small Business Financial Exchange (SBFE) today released the Q4 2022 Small Business Lending Trends analysis , examining key credit information for America’s small businesses. The report reflects the ongoing economic headwinds impacting small business credit, including persistent inflation and interest rate hikes. Key Findings Delinquency increased...
CBA Sends Letter to Senate Banking Ahead of CFPB Semi-Annual Hearing