Richard's Rapid Fire

  • October 9, 2015
    Nandita Bakhski, Mary Navarro and Maria Tedesco stand with Richard Hunt at the Most Powerful Women in Banking event on Thursday, October 8, 2015. New York City, NY American Banker Names Three CBA Board Members to Most Powerful Women In Banking List In New York City, three members of CBA's Board of Directors were honored at American Banker's Most Powerful Women in Banking (MPWIB) dinner on...
  • October 2, 2015
    Bipartisan Support Lifts CFPB Commission Bill Out of House Financial Services Committee I am happy to share the House Financial Services Committee passed the Financial Product Safety Commission Act of 2015 (H.R. 1266), a chief CBA priority, which establishes a bipartisan, five-member commission at the CFPB. For the first time, thanks in part to outstanding trade coordination efforts, the...
  • September 25, 2015
    Three CBA Board Members Named Most Powerful Women In Banking On Tuesday, three members of CBA's Board of Directors were named to American Banker's Most Powerful Women in Banking (MPWIB) lists. Mary Navarro , Senior EVP and Retail and Business Banking Director at Huntington Bancshares, again has been named one of "The 25 Most Powerful Women in Banking." Maria Tedesco , Managing Director of Retail...
  • September 18, 2015
    To Raise the Rates or Not to Raise the Rates On Thursday, the Federal Reserve balked again. For those of you keeping track at home, this means the Fed will continue its nine-year stretch without an increase. Full wrap-up of the discussion is here , and a great editorial explaining why the Fed keeps the rates at zero may be found here . Obama and Duncan Visit Iowa On Monday afternoon , President...
  • September 11, 2015
    DOJ Sets Out on a Witch-hunt for Bankers On Wednesday, Attorney General Loretta Lynch offered her first major policy announcement and, per news reports , it reads as something better suited for the 16th or 17th century rather than the 21st. If the details in this New York Times piece are accurate, these new rules should give each of you pause. According to the Times , starting immediately, the U...
  • September 4, 2015
    September: A Great Month at CBA Headquarters With our board of directors, committee chairs and vice chairs, and most of our committee members coming to town, September is a great month at CBA headquarters. We love seeing our members in person and offering them an opportunity to interact and engage together on issues important to retail banking. We look forward to a great few weeks in Washington...
  • August 28, 2015
    The Latest in the Complaint Saga: More Irresponsible Info from the CFPB On Tuesday, the Bureau released its monthly consumer complaints snapshot . According to the report, as of August 1, 2015, the CFPB has "handled" 677, 200 complaints nationally. This may seem like a lot... unfortunately, this number is absolutely worthless. The CFPB cites this 677,000 number but fails to reveal it includes...
  • August 21, 2015
    Working with the CFPB—Advice from the Inside Here's what a former CFPB attorney had to say in the way of advice to lenders on how to better work with the CFPB. Gerald Sachs, formerly a senior counsel for enforcement strategy at the Bureau, told attendees at Automotive Resource Network's 2015 Annual Automotive Conference the CFPB "doesn't care" if consumer complaints represent a statistically...
  • August 14, 2015
    Just because Congress is on vacation doesn't mean the regulators are. Thanks again to all of you who joined our membership call on Monday. Discussion included an update on CBA's top legislative regulatory priorities. Stay tuned for our next call! TIME Waxes Nostalgic On Thursday, TIME magazine published a long-form article looking back on the CFPB's first four years. Disappointing read . Too bad...
  • August 7, 2015
    CFPB and the Question of Constitutionality "The constitutionality of the CFPB's structure is now on track for its first review by a federal appeals court. This is going to be interesting," wrote Alison Frankel for Reuters on Tuesday, August 4, 2015. The day before, the motions panel of the District of Columbia U.S. Circuit Court of Appeals granted PHH Corporation's motion, finding the company had...

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