ICBA thanked the House Financial Services Committee for scheduling a hearing on the Consumer Financial Protection Bureau that will feature ICBA-advocated legislation.
Today’s Hearing: The hearing—“A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections”—is scheduled for 10 a.m. (Eastern time) today.
Details: In its support letter, ICBA thanked Chairman French Hill (R-Ark.) and Ranking Member Maxine Waters (D-Calif.) for including community bank priority legislation in the hearing:
The Transparency in CFPB Cost-Benefit Analysis Act.
The Making the CFPB Accountable to Small Businesses Act (H.R. 1606).
The Rectifying Undefined Descriptions of Abusive Act and Practices Act (H.R. 1652).
Outlook: ICBA said the bills would create more balanced and effective CFPB rules that promote both consumer protection and access to credit and other banking services.