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Fair Lending/Responsible Banking
Fair lending principles are embraced by CBA members. Regulatory enforcement, however, is an increasingly complex area of compliance, and has become even more challenging with the intense search at the state and federal levels for 'predatory lending' practices. To encourage self-evaluation, CBA helped establish a privilege for self-testing for fair lending compliance. CBA also is responding to new fair lending guidelines and protecting banks from unnecessary and burdensome small business data collection.
- June 21, 2017June 21, 2017 The Honorable James Mattis Secretary of Defense 1000 Defense Pentagon Washington, DC 20301-1000 Dear Mr. Secretary, As we approach the first anniversary of the implementation of the Department of Defense’s amended Military Lending Act (MLA) Regulation, the Financial Trade Associations – the American Bankers Association, the American Financial Services Association, the Association of...
- June 21, 2017On Friday, June 21, 2017, CBA and other financial trades submitted a letter to the U.S. Department of Defense (DoD) recommending changes to the Military Lending Act (MLA). Specifically, the letter requests the DoD: Clarify the exemption for purchase money loans (including vehicle purchase money loans) applies unless the borrower is receiving cash from the proceeds of the loan. Thus, purchase...June 14, 2017 - 10:30AMPastJune 12, 2017The right decisioning vendor can mean the difference between mediocrity and success. Wondering how to identify and choose the best vendor for your unique needs? Check out the Zoot Guide to Choosing a Decisioning Vendor for actionable insights into the selection process. Please click link to access, A Zoot Guide: How to Choose the Right Decisioning Vendor .May 25, 2017 - 2:00PMPastMay 19, 2017May 19, 2017 Ms. Monica Jackson Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street, NW Washington, DC 20552 Via electronic submission Re: Response of the Consumer Bankers Association to the Request for Information Regarding Use of Alternative Data and Modeling Techniques in the Credit Process (Docket No. CFPB-2017-0005) Dear Ms. Jackson, The Consumer Bankers...May 18, 2017 - 2:00PMPastApril 27, 2017 - 2:00PMPastApril 20, 2017 - 2:00PMPastApril 19, 2017Many industries, such as financial services, are looking to develop ways to leverage mobile capabilities. The goal is to use mobile to attract new customers, but also to engage and cement relationships with current customers. The challenge lies in the execution. To be effective, you’ll need to determine how to develop innovative ways to leverage the technology and your data and turn that into an...