Richard's Rapid Fire

  • July 31, 2015
    CBA’s Executive Banking School Graduates 94 Tuesday morning 94 bankers wrote the final chapter of their journey through CBA’s Executive Banking School. Graduates invested three years and countless hours to their studies as they prepared to become the future leaders of banking. Congratulations to all our graduates including Tony Warden —this year’s recipient of the Tem Wooldridge Award —for his...
  • July 24, 2015
    Breaking News on CFPB Court Challenge According to a Bloomberg report , a Federal appeals court has revived the constitutional challenge to the CFPB. The ruling states a Texas bank can challenge the Bureau's powers even though the bank's conduct has not been subject to any enforcement. CFPB Shuffles Leadership With Steve Antonakes' planned departure, the CFPB announced two personnel changes on...
  • July 17, 2015
    Antonakes to Leave CFPB The CFPB announced on Thursday Deputy Director Steven Antonakes will return to Massachusetts full time. Antonakes' insight as a career examiner brought valued credibility to two important roles at the Bureau: Deputy Director and Associate Director for Supervision, Enforcement and Fair Lending. He struck the right balance between the safety and soundness of a bank and...
  • July 10, 2015
    Meeting with our Members This week we visited our bankers at Sallie Mae Bank in their Delaware offices to discuss the state and strength of the private student lending industry, how banks are protecting consumers, and the CFPB complaints portal. Thank you to Ray Quinlan , Chairman, Chief Executive Officer; Charlie Rocha , Executive Vice President, Chief Marketing Officer; and Paul Thome ,...
  • July 2, 2015
    Honoring our Men and Women of the Armed Services As we fire up the grills and reunite with family this weekend, remember to take a moment to reflect on the true meaning of this Independence Day and thank those who have so honorably served our nation. Thank you to all our banks who provide transition services to our veterans. Happy Fourth to all of you! Branch Buzz At last week's board meeting,...
  • June 26, 2015
    Action-Packed Week at CBA Headquarters We had a spectacular week at CBA Headquarters with our Board of Directors and the Mid-Tier Retail Executives in Washington, D.C. On Tuesday morning, CBA's Mid-Tier Retail Executives held their in-person meeting to discuss the latest issues impacting CBA member banks with $10-50 billion in assets. That afternoon, both the Board and Mid-Tiers joined efforts to...
  • June 19, 2015
    Two-Month TRID Delay On Wednesday, due to “an administrative error,” CFPB Director Cordray announced the Bureau is proposing to delay the effective date of the CFPB’s TILA/RESPA Integrated Disclosure (TRID) regulation by two months (moving the date to October 1 from August 1). Though banks have been working with their vendors to ensure a smooth integration, this additional time will help...
  • June 12, 2015
    Student Loan Repayment – The Responsible vs. The Irresponsible This week, MeasureOne released its latest report on private student lending. Once again, it shows banks are working in a responsible manner with students—roughly 98 percent of loans are in repayment. This news comes on the heels of a New York Times op-ed published last weekend entitled, “ Why I Defaulted on My Student Loans .” An...
  • June 5, 2015
    Update on TRID On Wednesday, CFPB Director Richard Cordray announced the Bureau’s enforcement will be sensitive to those mortgage lenders seeking to comply in good faith with the CFPB’s TILA-RESPA Integrated Disclosure (TRID) regulation. As the industry approaches the date for transition to the new mortgage disclosure rule taking effect August 1, 2015, we welcome the Director’s decision finally...
  • May 29, 2015
    TRID: 295 Members of Congress Join Our Call A bipartisan, bicameral group of legislators (dozens of Democrats, including Maxine Waters of California, a long-standing supporter of the CFPB) sent letters to CFPB Director Richard Cordray late last week urging him to offer a hold-harmless period for those making a good faith effort to comply with the CFPB’s TILA/RESPA Integrated Disclosures (TRID)...

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