Richard's Rapid Fire

  • October 20, 2017
    ​Cordray, Noreika Arbitration Spat Heats Up CFPB Director Richard Cordray and Acting OCC Comptroller Keith Noreika continue to publicly air their disagreements over the merits of the CFPB’s arbitration rule. Recently, both agency heads published dueling op-eds in The Hill challenging each other’s views of the rule. This week, the debate continued to escalate as both challenged the validity of the...
  • October 13, 2017
    House Committee Moves on Regulatory Reform, SIFI Designation Bill During a markup session this week, the House Financial Services Committee moved a host of regulatory reforms, including Congressman Blaine Luetkemeyer’s SIFI designation bill. As CBA noted in its letter to the committee, designating risk strictly based on the size of a financial institution does not make sense and it harms...
  • October 6, 2017
    CFPB Final Small-Dollar Rule Falls Short For Consumers The CFPB’s long-awaited small-dollar rule is finally here, and you guessed it! The Bureau whiffed at an opportunity to provide assistance to the millions of Americans experiencing financial hardship. It is hard to believe just days after the CFPB reported more than four in ten Americans were struggling to pay monthly bills – often because of...
  • September 29, 2017
    CBA to CFPB: Help Banks Serve Consumers in Need of Short-Term Credit A huge segment of consumers are struggling to make ends meet in a given month – 43 percent to be exact – according to a new CFPB survey. Since the FDIC and OCC issued guidance essentially pushing banks out of the small-dollar lending market, consumers have been forced to use less-safe, less-regulated and more costly entities to...
  • 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 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 8, 2017
    Welcoming CBA’s Board of Directors & Committee Leadership We are excited to welcome our Board of Directors to CBA HQ next week for our September Board meeting. Each time we meet, it provides us an opportunity to chart a path forward for the retail banking industry and discuss how we can best serve consumers and small businesses. We also will announce our Board leadership team for 2018, as...
  • September 1, 2017
    CBA’s Membership Stands With the Victims of Hurricane Harvey CBA members continue to provide assistance to the victims of Hurricane Harvey. As a product of Louisiana, I certainly weathered my share of floods, storms, depressions, and a few minor hurricanes. However, absolutely nothing could have prepared us for Hurricane Harvey’s destruction; it is beyond words. From the thousands of willing...
  • September 1, 2017
    CBA’s Membership Stands With the Victims of Hurricane Harvey CBA members continue to provide assistance to the victims of Hurricane Harvey. As a product of Louisiana, I certainly weathered my share of floods, storms, depressions, and a few minor hurricanes. However, absolutely nothing could have prepared us for Hurricane Harvey’s destruction; it is beyond words. From the thousands of willing...
  • August 25, 2017
    Director Cordray: Time to Decide It is well past time Director Richard Cordray clarify his intentions to run for public office as the speculation has become a distraction and now casts a shadow over the impartiality of the CFPB. We need to have stability at the CFPB. The current limbo – will he or won't he? – is just the latest reason why a Senate-confirmed, bipartisan commission must be...

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