In a joint letter, ABA, the U.S. Chamber of Commerce and three other banking and credit union trade associations criticized the Consumer Financial Protection Bureau’s proposed study of disclosures as circumventing Paperwork Reduction Act requirements intended to ensure agency research maximizes the utility of information collected.
The American Bankers Association today shared its views on legislation currently before the House Financial Services Committee for markup, including several bills on Consumer Financial Protection Bureau reform
The Biden administration this week released a guide for state legislatures and attorneys general on how they can take action against what it has labeled “junk fees.”
A proposal by the CFPB to limit credit card late fees would have negative economic consequences for consumers and the agency needs to explain the process it used to draft the rule, Rep. Andy Barr (R-Ky.), House Financial Services Committee Chairman Patrick McHenry (R-N.C.) and 16 House Republicans said this week in a letter to the agency.
The Supreme Court will hear a case challenging the CFPB’s funding structure on the grounds that it violates the separation of powers clause of the U.S. Constitution.
While ABA is engaging with banking regulators in constructive ways, it is also pushing back against a range of rulemakings and regulatory changes that will do more harm than good if enacted, and it is willing to go to court to fight those proposals, ABA President and CEO Rob Nichols said this week at the Conference for Community Bankers in Orlando.
The American Bankers Association and six other trade groups on Tuesday asked a federal court in Texas to grant summary judgment in their lawsuit against the CFPB for exceeding its legal authority when it expanded the definition of “unfairness” to encompass discrimination in the UDAAP exam manual earlier this year.
The Consumer Financial Protection Bureau today issued guidance on certain overdraft and depositor bank fees that the agency alleged “are likely unfair and unlawful.”
Before issuing a proposed rule, the CFPB must convene a panel of small businesses that represent their markets to provide input.
A three-judge panel of the Fifth Circuit Court of Appeals today ruled that the Consumer Financial Protection Bureau’s funding structure violates the separation of powers clause of the Constitution.