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CBA General Issues
Items about the Consumer Bankers Association and its initiatives, including CBA Advanced Education, CBA LIVE, CBA Team news and more.
- October 9, 2017October 9, 2017 The Honorable Ann Wagner U.S. House of Representatives 435 Cannon House Office Building Washington DC 20515 Dear Congresswoman Wagner, The undersigned associations support the passage of H.R. 3857, the Protecting Advice for Small Savers Act of 2017, which would establish a best interest standard of conduct for broker-dealers, provide appropriate exemptions under ERISA and the...
- October 6, 2017CFPB Final Small-Dollar Rule Falls Short For Consumers The CFPB’s long-awaited small-dollar rule is finally here, and you guessed it! The Bureau whiffed at an opportunity to provide assistance to the millions of Americans experiencing financial hardship. It is hard to believe just days after the CFPB reported more than four in ten Americans were struggling to pay monthly bills – often because of...
- October 6, 2017On Friday, October 6, 2017, the OCC is requesting comment on a proposed rule to shorten the standard settlement cycle for securities purchased or sold by national banks or federal savings associations (collectively, banks). The proposal was issued jointly with the FDIC. The OCC initially posted the proposal to its website on September 1, 2017. It was published in the Federal Register on September...October 5, 2017On Thursday, October 5, 2017, the Federal Reserve Board extended the comment periods for its proposal to enhance the effectiveness of boards of directors, as well as its related proposal to implement a new ratings system for large financial institutions that would be aligned with the post-crisis supervisory program. The new deadline is November 30, 2017,September 29, 2017Washington, D.C. – The Consumer Bankers Association today wrote Senators Claire McCaskill (D-Mo.) and David Perdue (R-Ga.) to offer support for the Systemic Risk Designation Improvement Act, bipartisan legislation designed to give the Federal Reserve flexibility when making systemic risk designations. “Designating risk based on how big a financial institution is does not make sense and it hurts...September 29, 2017On Friday, September 29, 2017, the FDIC released a list of orders of administrative enforcement actions taken against banks and individuals in August. There are no administrative hearings scheduled for October 2017. The FDIC issued a total of 22 orders, four notices, including one notice issued in May, and one adjudicated decision. The administrative enforcement actions in those orders consisted...September 29, 2017September 29, 2017 The Honorable Claire McCaskill The Honorable David Perdue U.S. Senate U.S. Senate 503 Hart Senate Office Building 383 Russell Senate Office Building Washington, D.C. 20002 Washington, D.C. 20002 Dear Senators McCaskill and Perdue: On behalf of the Consumer Bankers Association (CBA), I write in support of S. 1893, the Systemic Risk Designation Improvement Act. CBA is the voice...September 28, 2017On Thursday, September 28, 2017, the OCC released its bank supervision operating plan for fiscal year (FY) 2018. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual banks. Supervisory strategies for FY 2018 focus on: Cybersecurity and operational resiliency; Commercial and retail credit loan underwriting, concentration risk management,...September 28, 2017On Thursday, September 28, 2017, the Federal Reserve Board and the FDIC extended the next resolution plan filing deadline for eight large domestic banks by one year to July 1, 2019. The extension will provide the time needed for firms to remediate any weaknesses identified in their July 2017 submissions and to prepare and improve their next resolution plan submissions. According to the agencies’...September 27, 2017On Wednesday, September 27, 2017, the federal banking agencies proposed a rule intended to reduce regulatory burden by simplifying several requirements in the agencies' regulatory capital rule. Most aspects of the proposed rule would apply only to banking organizations that are not subject to the "advanced approaches" in the capital rule, which are generally firms with less than $250 billion in...