The Consumer Financial Protection Bureau will likely issue a rule to define what kinds of practices it considers "abusive" under the Dodd-Frank Act, providing greater clarity to the controversial UDAAP standard created by the statute, Acting Director Mick Mulvaney said today. 

In response to the Consumer Financial Protection Bureau’s call for feedback on its partnership in the Global Financial Innovation Network, ABA urged the bureau to clarify that bank-startup partnerships are among the “innovative companies” GFIN intends to serve. ABA’s comment letter yesterday also stressed that the scope of GFIN should not be expanded to recommend best practices or regulatory frameworks, ...

The American Bankers Association this week joined the U.S. Chamber of Commerce and the Consumer Bankers Association in urging the Consumer Financial Protection Bureau to support banks and other businesses seeking to test new disclosures that may be clearer and more understandable than existing, legally required ones.

The Consumer Financial Protection Bureau has issued a request for information seeking feedback on its collection and treatment of consumer data as it assesses whether changes to its current practices are needed.

The Consumer Financial Protection Bureau today announced the appointment of all-new panels on its advisory boards, including the Community Bank Advisory Council.

Five years after the Consumer Financial Protection Bureau finalized a policy for trial consumer disclosures that saw exactly zero such disclosures authorized, the bureau is retooling its policy to encourage more companies to develop trial disclosures.

The Senate Banking Committee today voted to advance the nominations of Kathy Kraninger as director of the Consumer Financial Protection Bureau and Kimberly Reed as president of the U.S. Export-Import Bank.

In testimony before the Senate Banking Committee today, Consumer Financial Protection Bureau director nominee Kathy Kraninger outlined her key priorities for leading the agency if confirmed, pledging to ensure that the CFPB functions in a fair and transparent manner and is accountable to taxpayers.

The House by a vote of 217 to 199 today passed H.R. 6147, a minibus appropriations bill which included a number of financial services provisions backed by the American Bankers Association.

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.