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.
  • September 26, 2014
    CFPB Announces Project Catalyst Pilot On Thursday, September 25, 2014, the CFPB announced a research pilot titled Project Catalyst to examine the effectiveness of early intervention credit counseling for consumers who are at risk of default on their credit card debt. "Managing credit card debt can be stressful for consumers and will affect their ability to access credit in the future," said CFPB...
  • September 19, 2014
    CFPB Field Hearing On Auto Finance The CFPB hosted a field hearing on Thursday, September 18, 2014, in Indianapolis, to address the auto finance market and proposed federal oversight of larger nonbank auto finance firms. It also released a Supervisory Highlights report , outlining the CFPB's investigation of auto lending discrimination over the last two years and published a long-awaited white...
  • August 29, 2014
    Consumer Finance Optimism Drops in July The CBA/AOL monthly Finance Optimism Index dropped back into negative territory to -3.0 for July 2014. The drop of 6.8 points follows the first positive results for the index since January 2014. Contributing factors to this decline include turmoil across the globe, increased concern about personal financial outlooks, and a decrease in positive economic news...
  • August 8, 2014
    Our thoughts and prayers are with our friends in the Aloha State as they prepare for impending hurricanes. Fed Releases Senior Loan Officer Survey The U.S. Federal Reserve this week released its July 2014 Senior Loan Officer Survey , which is comprised of respondents from up to 80 large domestic banks and 24 U.S. branches and agencies of foreign banks. The survey found about 40 percent of large...
  • August 1, 2014
    CFPB Releases Overdraft Data Point On Thursday, July 31, 2014, the CFPB released a long-awaited report entitled: “Data Point: Checking Account Overdraft,” which provided statistics on the usage of overdraft products. The report is not final and does not make express policy recommendations. The CFPB is expected to release more overdraft reports prior to a proposed rulemaking. Key findings from the...
  • July 11, 2014
    CFPB Takes Action Against Payday Lender On Thursday, July 10, 2014, the CFPB took enforcement action against a large payday lender, ACE Cash Express, for allegedly pushing payday borrowers into a cycle of debt. The CFPB found ACE, headquartered in Irving, TX, used illegal debt collection tactics, including harassment and false threats of lawsuits or criminal prosecution, to pressure overdue...
  • July 11, 2014
    Communications Working Group Launches CBA’s media relations team has been working with our member banks corporate communications teams to provide an edge on the issues and news coming out of our nation’s capital. On Wednesday, July 9, 2014, we held the first quarterly call of a new working group, open to all of our members. The call featured an update on what to expect from regulators and Capitol...

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