CBA in the News

Press Contact

Bobby Grant
bgrant@consumerbankers.com
202-552-6365
  • March 16, 2017
    Banks and other financial firms in 2016 generated the highest level of fees in seven years related to overdrafts on checking accounts, marking a turnaround for a charge crisis-era regulation tried to rein in. So-called overdraft fees totaled $33.3 billion in 2016, up about 2.5% from 2015 and by 5.4% from 2011, according to Moebs Services Inc., an economic-research firm. Overdrafts occur when...
  • March 14, 2017
    In the months ahead, Trump stands to name a wave of the nation's topmost banking regulators -- including new heads of the Federal Reserve, FDIC and the Office of the Comptroller of the Currency when the terms of the current leaders expire. There's already a vacancy for a powerful big bank regulator -- the Fed's vice chairman for supervision . That's in addition to two other vacancies on the...
  • March 14, 2017
    If you’ve ever had to dispute a charge on a credit card, fix a mix-up with your mortgage or stop a debt collector from hounding you, you’ve benefited from the work of a federal watchdog agency that is now under fire in Washington. The Consumer Financial Protection Bureau arguably has done as much to change the financial lives of consumers as any other government agency in history. Most Americans...
  • March 10, 2017
    Shadow banks: The name sounds sinister, and these lightly regulated lenders do get some of the blame for the 2008-09 financial crisis. But they’re becoming an increasingly important feature of the global financial landscape, to the dismay of critics who fear they’ll eventually produce another financial systems failure. Also known more benignly as nonbank lenders, these entities have expanded...
  • March 10, 2017
    BANKERS BACK STUDENT LOAN BILL: A bill that would require the Education Department to disclose a loan’s annual percentage rate to students getting federal loans at the time of application now has the support of the Consumer Bankers Association. “Many federal student loan borrowers learn the true cost of their education much too late,” Richard Hunt, the president of the group, said in a statement...
  • February 23, 2017
    Republicans and the Consumer Financial Protection Bureau are playing a game of chicken over a proposal that would restrict banks, credit unions and other lenders from using mandatory arbitration clauses. Republicans stand ready to deploy a rarely used legislative process called the Congressional Review Act if the CFPB finalizes the arbitration plan, which would ban clauses that prevent consumers...
  • February 16, 2017
    It’s time to end the merchant markup and keep retailers from passing on their bills to you. Tell your legislator to support customers and small businesses and repeal the Durbin Amendment.
  • February 16, 2017
    A U.S. appeals court on Thursday granted a request from the Consumer Financial Protection Bureau to reconsider an October ruling that allows the president to fire the CFPB director at will. The U.S. Court of Appeals for the D.C. Circuit ruled that it would rehear the October ruling in PHH v. CFPB, which bolstered the long-running campaign by financial groups and Republicans to restructure the...
  • February 16, 2017
    An appeals court on Thursday set aside a ruling that declared the Consumer Financial Protection Bureau constitutionally flawed, handing a lifeline to the agency as Republicans push to weaken its powers. The U.S. Court of Appeals in Washington granted the bureau’s request to rehear the case , in which a three-judge panel also gave the White House authority to remove its independent director,...
  • February 16, 2017
    A full panel of judges will decide whether the structure of the Consumer Financial Protection Bureau is constitutional, according to court documents filed Thursday, throwing a lifeline to the embattled agency. The administration of Donald Trump is hostile to the CFPB , which is charged with protecting consumers from abuse by banks and other financial institutions. The bureau is an independent...

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