Blog

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  • June 21, 2013
    CFPB Radar Following CBA's Board meeting with CFPB Director Cordray last week, we are working with Bureau staff to continue our dialogue on QM issues. The CFPB’s mortgage implementation team will continue to issue clarifications and resolve questions as lenders work to implement the new rules by the January 10 effective date. Director Cordray delivered remarks to the Exchequer Club on Wednesday...
  • June 14, 2013
    CFPB Overdraft Report The CFPB released their overdraft report just after midnight, Tuesday morning. This is the first of two reports with a follow-up expected in late 2013/early 2014, and we expect the agency to consider regulatory action at that time. As a result of the overdraft report, this was a busy news week for CBA. I appeared on NBC Nightly News and CNBC Closing Bell on Tuesday, talking...
  • June 7, 2013
    Want a Job? From CFPB Posting: " Chief of Staff position : We seek executives with experience in small to mid-sized organizations who understand the unique disquiet of moving rapidly towards a steady-state." Unique disquiet? As a reminder, the CFPB's exam team is about 70% staffed up at the moment so there are opportunities there, as well. Coming Up: We expect a proposal from the CFPB under its...
  • May 31, 2013
    2013 Competition Winners Announced The CBA Foundation, and Ashoka’s Youth Venture are excited to announce the 2013 Banking on Youth Grand Prize winner and the Audience Choice Award recipient! Grand Prize of $15,000: TGIF-Turn Grease Into Fuel John Perino and Cassandra Azad, RI Project “Turn Grease Into Fuel” (TGIF) is a sustainable system designed to collect waste cooking oil and convert it into...
  • May 24, 2013
    Bernanke and Lew Testimony Two big sound bites caught my attention this week and no, it was not the IRS controversy. They came from Federal Reserve Chairman Ben Bernanke and Treasury Secretary Lew. Bernanke on concerns about financial stability : "I would say that (concern) has increased a bit. We have greatly increased our monitoring and attention to these issues ... to ascertain both whether...
  • May 17, 2013
    CFPB Radar The United States Senate is likely to debate CFPB Director Cordray's confirmation next week, with an actual vote following the Memorial Day recess. While Director Cordray will not receive the votes necessary for confirmation, I believe Majority Leader Reid may be using this vote for a filibuster "reform" effort. Instead of needing 60 votes, Reid's proposal would require only 51 votes...
  • May 10, 2013
    Last Chance to Apply for Retail Banking School The “best in class” banks will be in class at GSRBM this July 21-31, 2013. Less than one week remains until the application deadline: Wednesday, May 15, 2013. Check out our new curriculum and read why students, faculty and decision-makers choose GSRBM . Student Loans - CBA and CFPB Action The CFPB on Wednesday issued its report on student debt and...
  • May 3, 2013
    CFPB's Remittances Rule Commendable CBA applauds the CFPB on the final rule on remittances issued this week. We are encouraged by the Bureau's willingness to work with banks to ensure customers' needs are met when sending money abroad. A full analysis of the rule may be found in our GR Update below. Regulatory Radar - What's Next? Next Wednesday, May 8, 2013, the CFPB will hold a hearing on...
  • April 26, 2013
    Busy Week for the CFPB The CFPB has been in a frenzy of activity. In addition to their outstanding financial literacy outreach to consumers this week they: Issued a white paper on payday and deposit advance loans; Issued a statement on deposit advance product announcements by banking regulators; Issued Preemption Determination; Issued Second Round of Clarifications to Mortgage Rules; and...
  • April 19, 2013
    CBA Testimony on Regulatory Relief CBA Government Relations Council Member Chuck Kim of Commerce Bancshares testified on Tuesday, April 16, 2013, before the U.S. House Subcommittee on Financial Institutions and Consumer Credit on “Examining Community Bank Regulatory Burdens.” Chuck fielded questions from Committee members about bank definitions by size and business model. Please see the GR...

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