News Topic: Consumer Bankers Association

Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns. ... Read full article

The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans. ... Read full article

In a rare show of unity, banking industry and consumer advocacy groups told congressional leaders that it is not too late to ensure individuals can access all of their coronavirus relief funds promised by the government. ... Read full article

In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount. ... Read full article

Banks typically don't offer loans to cash-strapped consumers, and are poorly positioned to start doing so on an emergency basis — unless the government steps in to help. ... Read full article

New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington. ... Read full article

While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help. ... Read full article

Two new surveys have found that most consumers would prefer to stash their cash in traditional banks. But there's one group of savers who would be very comfortable opening accounts with tech giants if given the opportunity. ... Read full article

Large financial institutions and trade groups are among the organizations targeted in the Democrat’s latest proposal to rein in corporate influence in Washington. ... Read full article

Steven Zeisel, a lobbyist with the Consumer Bankers Association who died Sunday, was a strong voice for financial institutions navigating post-crisis regulations. He also had the ear of policymakers on the other side of the table. ... Read full article

Nitin Mhatre of Webster Financial explains why the Consumer Bankers Association — whose members want a bigger piece of the student lending market — backs legislation that would make the federal government tell borrowers how much they will ultimately owe, ... Read full article

A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition. ... Read full article

The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession. ... Read full article

The industry continues to push for an overhaul of the bureau’s leadership structure, but both parties seem uninterested. ... Read full article

A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes. ... Read full article

Industry groups and lawmakers have joined bankers in insisting the agency develop a plan to resolve the paperwork problem before the partial government shutdown ends. ... Read full article

The shutdown is keeping the agency from approving about 300 loans per day, according to CBA President Richard Hunt. ... Read full article

The report from an advocacy group that focuses on college affordability says that schools need to do a better job of educating students about their eligibility for federal loans, which typically carry lower interest rates than loans from banks and other ... Read full article