Tag Archives: CFPB reform

ABA Recommends Changes to CFPB’s Complaint Handling Process

In a comment letter to the Consumer Financial Protection Bureau yesterday -- the twelfth and final one that the association will submit as part of the bureau’s ongoing feedback initiative -- ABA urged the bureau to encourage consumers to contact their bank directly to express a concern with a product or service prior to filing a formal complaint with the CFPB.

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Legal Battle over CFPB Leadership Comes to Close

Consumer Financial Protection Bureau Deputy Director Leandra English said today that she will resign next week, ending her court claim to be recognized as acting director of the bureau, which until now was pending in federal appeals court.

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ABA Urges CFPB to Use Guidance Appropriately, Effectively

In the latest in its series of comment letters to the Consumer Financial Protection Bureau responding to the bureau’s 12 requests for information, ABA emphasized the important role of clear and agency-binding guidance in facilitating compliance with regulations and added that guidance should not be used as a basis for enforcement actions.

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ABA Calls for Clarification on Fair Lending Standards in Letter to CFPB

In a comment letter to the Consumer Financial Protection Bureau today -- the ninth of 12 that the association will submit in response to the bureau’s ongoing feedback initiative -- ABA encouraged the bureau to update the regulations and related commentaries it inherited from other federal agencies on a regular basis as issues and questions arise and markets evolve.

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ABA, Trade Groups Urge Fixes to CFPB Remittance Rule

As part of the Consumer Financial Protection Bureau’s ongoing feedback initiative, ABA and its transaction banking subsidiary BAFT, joined by the Clearing House and the Consumer Bankers Association, urged the CFPB to make several much-needed rule changes to its remittance rule.

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ABA Urges CFPB to Ensure Rules are ‘Consistent with the Law’

The Consumer Financial Protection Bureau should consider whether the rules it has written since 2011 are “consistent with the law, clear, and whether they promote the financial interests of consumers in a strong, vibrant, and innovative market that offers the variety of financial products and services that consumers want and value,” the American Bankers Association said in a comment letter to the bureau today.

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