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.
  • June 22, 2017
    On Thursday, June 22, 2017, CBA led a joint trade effort with 22 trades representing thousands of banks, credit unions, financial institutions, fintech companies, and businesses of all sizes to House and Senate Appropriators requesting inclusion of CFPB Commission language in the FY2018 Financial Services & General Government Appropriations Bills. CBA stated, “A Senate confirmed, bipartisan...
  • June 22, 2017
    June 22, 2017 The Honorable Shelley Moore Capito The Honorable Tom Graves Chairman Chairman Financial Services & General Government Financial Services & General Government Subcommittee Subcommittee Senate Appropriations Committee House Appropriations Committee 133 Dirksen Senate Office Building B-300 Rayburn House Office Building Washington, D.C. 20002 Washington, D.C. 20515 The Honorable...
  • June 22, 2017
    A coalition of financial and business groups called on lawmakers to replace the Consumer Financial Protection Bureau's single director with a five-person, bipartisan commission. The endorsement, presented today in a letter to House and Senate appropriators, represents the view of 22 trade groups representing thousands of large and small businesses, banks, tech companies and real estate groups...
  • June 22, 2017
    Today, CFPB is headed by a single director, Obama appointee Richard Cordray. Banks regulated by the bureau have chafed at Cordray's power to supervise them and write rules unilaterally. (Graeme Jennings/Washington Examiner) Banking groups are pushing for a major change to the leadership of the Consumer Financial Protection Bureau, and want it attached to must-pass government funding legislation...
  • June 22, 2017
    On Thursday, June 22, 2017, the CFPB held an event in Raleigh, N.C. outlining its work with student loan debt, specifically public student loan forgiveness programs. The CFPB released a report spotlighting complaints from borrowers about student loan servicers mishandling public student loan forgiveness programs. The report indicated servicers delayed or denied access to loan forgiveness through...
  • June 16, 2017
    CBA Board of Directors Takes The White House We always appreciate the opportunity to host our Board of Directors at CBA World Headquarters. As Washington debates Dodd-Frank reform, we were glad to visit with senior officials at the White House and OCC Acting Comptroller Keith Noreika to discuss pressing issues facing the banking industry and consumers. Additionally, two new members were elected...
  • June 15, 2017
    On Thursday, June 15, the CFPB announced it is seeking comment on proposed updates to its prepaid rule. The Bureau issued its prepaid rule in 2016 in an attempt to require banks to limit consumers’ losses when funds are stolen or cards are lost. The agency is seeking comment on several adjustments to the prepaid rule. The proposal addresses concerns raised by prepaid companies about what they...
  • June 14, 2017
    Newly announced Trump administration plans to weaken or eliminate many financial-industry regulations enacted after the 2008 financial crisis mark the opening shot in what consumer groups predict will be a long Washington siege. On Tuesday, the day after the Department of the Treasury issued the most detailed blueprint yet of proposed changes to the Dodd-Frank Wall Street Reform and Consumer...
  • June 13, 2017
    Treasury secretary Steven Mnuchin has responded to Donald Trump’s call for a regulatory break for US banks, announcing a slew of recommendations designed to overhaul a regime that aides say has been “disastrous” for the world’s largest economy. Some of the recommendations contained within a 147-page report , released on Monday evening, will require the support of Congress — which could be...

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