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.

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.

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.

President Trump will nominate Kathy Kraninger, a top aide at the Office of Management and Budget, as director of the CFPB, the White House confirmed today.

The Consumer Financial Protection Bureau should target its rulemaking process more precisely on the consumer harms it seeks to address and do so in a clear, simple and transparent manner, ABA said in a comment letter to the bureau today.

Consumer Financial Protection Bureau Acting Director Mick Mulvaney announced today that the bureau will drop its case against mortgage lender PHH Corp.

The Consumer Financial Protection Bureau announced today that it will relaunch its processes for collecting public feedback.

In a comment letter to the Consumer Financial Protection Bureau today — the sixth of 12 the association will submit as part of the bureau’s ongoing feedback initiative — ABA urged the bureau to stop publishing individual consumer complaints and complaint narratives. The association pointed out that the practice of publishing individual complaints — which began under the bureau’s previous leadership ...

The Consumer Financial Protection Bureau will consider the scale of violations as it makes enforcement actions against companies, CFPB Acting Director Mick Mulvaney said at an industry event in Washington, D.C., today.

In a comment letter to the Consumer Financial Protection Bureau today – the fifth of 12 the association will submit as part of the bureau’s ongoing feedback initiative -- ABA and 51 state bankers associations highlighted how changes to the bureau’s approach to external engagements could improve the rulemaking process.