CBA in the News
March 19, 2018A bipartisan group of House members on Wednesday released a bill that would replace the director of the controversial Consumer Financial Protection Bureau (CFPB) with a five-person commission. The bill from Reps. Dennis Ross (R-Fla.), Kyrsten Sinema (D-Ariz.), Ann Wagner (R-Mo.) and David Scott (D-Ga.) would rename the CFPB and replace its director with a bipartisan panel. While the bill would...
March 14, 2018A bipartisan group of two Democrats and two Republicans in the House of Representatives introduced a bill yesterday that would replace the single director of the Consumer Financial Protection Bureau with a five-person commission. The bill, from Reps. Dennis Ross (R-Fla.), David Scott (D-Ga.), Kyrsten Sinema (D-Ariz.), and Ann Wagner (R-Mo.), would rename the CFPB to the Financial Product Safety...
March 7, 2018Private lenders are pushing to break up the government’s near monopoly in the $100 billion-a-year student-loan market. The banking industry’s main lobbying group, the Consumer Bankers Association, is pressing for the government to instate caps on how much individual graduate students and parents of undergraduates can borrow from the government to cover tuition. That would force many families to...
March 7, 2018CBA's President & CEO Richard Hunt Joins Charles Payne on Varney & Co to discuss the Senate's Bipartisan Banking Bill.
February 28, 2018WASHINGTON — Financial institutions and retail companies are trading barbs over which industry poses greater risk to sensitive customer information just as lawmakers are planning to take another stab at a data security bill. Bank and credit union trade associations sent a letter to House lawmakers on Wednesday supporting a data security proposal being put forward by Reps. Blaine Luetkemeyer, R-Mo...
February 27, 2018To the Editor: Re “ The Student Loan Serenity Prayer ,” by Michael Arceneaux (On Campus, Sunday Review, Feb. 11): I sympathize with some of Mr. Arceneaux’s comments, particularly the mountainous debt many students encounter as a result of college unaffordability. To help provide a remedy, we must improve college accountability through risk-sharing of federal student loans, as they make up 92...
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February 14, 2018After more than five years at the helm for the Financial Services Roundtable (FSR), former Minnesota Gov. Tim Pawlenty recently announced that he will step down from his post in March. Pawlenty indicated in a press release that he believes he is leaving the advocacy organization as it is well-positioned for future success.
January 31, 2018A duo of bills passed in the U.S. House of Representatives on Monday (Jan. 29) that would curb financial abuse of senior citizens and also ease the way for consumers residing in rural areas to open their bank accounts via remote means. As reported on Tuesday (Jan. 30) in American Banker , the law targeting elder abuse , which was part of previously introduced legislation, titled the Senior Safe...
January 31, 2018A federal appeals court ruled Wednesday the Consumer Financial Protection Bureau's single-director structure is constitutional, reversing an earlier federal decision that the Obama-era agency fell afoul of the separation of powers. The full D.C. Circuit Court of Appeals ruled seven to three that the current structure of the agency, which allows for a single director who cannot be removed by the...
