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.
  • September 27, 2017
    On Wednesday, September 27, 2017, the CFPB took action against Meridian Title Corporation , a real estate settlement services provider for allegedly steering consumers to a title insurer owned in part by several of Meridian’s executives without making disclosures about each businesses’ affiliation with one another. The CFPB found Meridian failed to disclose its relationship with the title insurer...
  • September 26, 2017
    On Tuesday, September 26, 2017, the CFPB released the results of a national survey on the financial well-being of American consumers, which shows more than 40% of adults struggle to make ends meet. The survey provides measurements on the financial well-being on various groups of consumers, in addition to the American population as a whole. In addition to the survey, the CFPB also released an...
  • September 25, 2017
    Recent projects completed by the Competitive Enterprise Institute and the Cato Institute again delved into unsatisfactory assessments of the Consumer Financial Protection Bureau. Coinciding with House Republicans chastising the CFPB over its investigation of Wells Fargo, a wide-sweeping survey conducted by the Cato Institute found that participants agree with an assertion previously made by the...
  • September 22, 2017
    CBA LIVE 2018 Registration Now Open CBA LIVE is back for 2018, and we are going “Beyond the Bank.” The banking industry is transforming across the board. From consumer interactions to digital capabilities the banking world is moving beyond brick and mortar. With 90 hours of programming and attendance from retail banking’s most senior leaders, CBA LIVE 2018 is this year’s can’t miss event. Join us...
  • September 20, 2017
    On Wednesday, September 20, 2017, the CFPB took two actions regarding the pending HMDA reporting changes which: Finalized the amendments to Regulation B (ECOA) to permit the collection of ethnicity, race and gender information under the new HMDA rules, without violating the Regulation B prohibition; and Proposed for comment guidelines to address the privacy issues under the new regulation (i.e...
  • September 19, 2017
    On Tuesday, September 19, 2017, the CFPB took action against Top Notch Funding & two individuals associated with the company for allegedly lying about loan offerings to consumers waiting for settlement payments . Top Notch’s alleged victims included former National Football League players suffering from neurological disorders, victims of the Deepwater Horizon oil-rig disaster, and September...
  • September 18, 2017
    On Monday, September 18, 2017, the CFPB took action against the National Collegiate Student Loan Trusts and their debt collector, Transworld Systems, Inc., for alleged illegal student loan debt collection lawsuits. The companies sued consumers for private student loan debt the companies could not prove was owed, or debt too old to litigate. The lawsuits allegedly relied on the filing of false or...
  • September 15, 2017
    CBA Elects New Board Leadership Team, Sets 2018 Advocacy Agenda CBA held its annual leadership summit in Washington, D.C. this week. I am pleased to announce Brad Conner of Citizens Bank was elected Chairman of the Board for 2018, succeeding Ross Carey of U.S. Bank, and Todd Barnhart of PNC was named Chair-Elect. Speaking with American Banker , Brad debuted our priorities for the upcoming year,...
  • September 14, 2017
    On Thursday, September 14, 2017, the CFPB announced that a no-action letter was issued to Upstart Network, Inc., who uses alternative data to make credit and pricing decisions. The no-action letter mandates that Upstart will regularly report lending and compliance information to the CFPB to mitigate risk to consumers and aid the Bureau’s understanding of the real-world impact of alternative data...
  • September 13, 2017
    September 13, 2017 The Honorable Richard Cordray C/O Monica Jackson, Office of the Executive Secretary Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 Submitted electronically to: http://www.regulations.gov Re: Docket No.: CFPB-2017-0011 - Small Business Data Collection Dear Director Cordray: The Consumer Bankers Association (―CBA‖)1 greatly appreciates the opportunity...

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