Browsing: Congress

Newsbytes

A pilot program by the U.S. Postal Service to offer check cashing services is inconsistent with congressional intent and inappropriately stretches the definition of “postal services,” ABA said in a letter to the Postal Regulatory Commission today.

Cybersecurity

While underscoring their full support for consumer data privacy and security, they noted that their members have been subject to “extensive federal privacy and data protection laws” for several decades, and pointed out several provisions of the legislation should be reconsidered.

Compliance and Risk

Ahead of a markup scheduled to begin tomorrow in the House Financial Services Committee, ABA sent a memo to lawmakers expressing opposition for H.R. 4277, the Overdraft Protection Act. Sponsored by Rep. Carolyn Maloney (D-N.Y.), the bill would amend the Truth in Lending Act to make changes to existing overdraft rules.

Legal

House Republican lawmakers this week slammed recent changes made by the CFPB to its supervision examination manual for unfair or deceptive acts and practices and its rules of practice and procedure regarding administrative adjudication procedures, noting that these actions “deviate significantly from past practices” and were taken outside of the notice and comment process.

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