CFPB

Enactment of the Dodd-Frank Act created the Consumer Financial Protection Bureau, an agency charged with carrying out federal consumer financial laws. We are focused on retail banking products and services, making CBA the industry resource on the CFPB. Our insights and analysis on CFPB-related issues, along with the latest news and information, provides our members with the necessary tools to navigate this new regulatory environment.
  • March 11, 2024
    WASHINGTON, D.C. – Last night, The Wall Street Journal’s Editorial Board published a piece on how “political price controls will merely shift costs somewhere else and reduce access to credit.” The editorial reflects many of the concerns the Consumer Bankers Association (CBA) has raised with regard to how regulatory proposals seeking to limit credit card late fees, overdraft fees, and interchange...
  • March 5, 2024
    Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement regarding the final rule issued by the Consumer Financial Protection Bureau (CFPB) limiting the safe harbor amount credit card issuers can charge consumers for late payments. The safe harbor thresholds were previously set by the Federal Reserve Board in its sweeping reforms of the credit...
  • March 1, 2024
    WASHINGTON, D.C. – A recent working paper from the Federal Reserve has been increasingly cited by critics of credit cards – particularly credit cards that offer rewards. The authors, who include an economist at the Federal Reserve, use expansive and bold language, claiming that their analysis “contributes to the literature that highlights the role of the financial system in driving wealth...
  • February 29, 2024
    WASHINGTON, D.C. – Earlier this month, the Consumer Financial Protection Bureau (CFPB or Bureau) published a comparison of credit card annual percentage rates (APRs) between large and small credit card issuers. As the Consumer Bankers Association (CBA) previously discussed , while the Bureau focuses solely on APRs, credit issuers compete on a number of different dimensions: their ability to...
  • February 22, 2024
    Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today responded to the latest misleading narrative from the Consumer Financial Protection Bureau (CFPB) related to the robustly competitive credit card market: “The CFPB claims that rising credit card interest rates over the past decade have been against a background of a ‘relatively stable share of cardholders with subprime...
  • February 16, 2024
    Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) recently published Terms of Credit Card Products survey, which intentionally included a number of troubling, unfounded statements about the state of the credit card marketplace: “The CFPB’s own data simply does not support...
  • February 1, 2024
    WASHINGTON, D.C. – Last week, the Consumer Financial Protection Bureau (CFPB) released a proposal that would prohibit certain types of non-sufficient funds (NSF) fees, citing them as “junk fees” in its press release. In particular, the proposed rule would only prohibit NSF fees on transactions that are declined in real time at the “swipe, tap, or click” – explicitly not covering check and ACH...
  • January 25, 2024
    The Consumer Financial Protection Bureau’s recent overdraft proposal is the focus of a column appearing in The Washington Post this week in which the author, Megan McArdle, highlights how this flawed policy “might end up hurting some of the very people it’s supposed to help: low-income Americans on the fringes of the banking system.” To read the full piece, click HERE or continue reading below...
  • January 24, 2024
    WASHINGTON, D.C. – Consumer Bankers Association (CBA) President and CEO Lindsey Johnson issued the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) notice of proposed rulemaking to prohibit non-sufficient funds (NSF) fees that misleads the public into thinking NSF fees are new, when in fact the vast majority of America’s leading retail banks have already...
  • January 17, 2024
    Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement after the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking that is the latest government price setting mandate from an administration desperate for a political win at the cost of underbanked consumers. “From the development of next-day grace periods to the...

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