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ICBA Statement Following Supreme Court Ruling on CFPB Funding Structure
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s Supreme Court ruling on the constitutionality of the Consumer...
CFPB: Reg E wire transfer exemption doesn’t apply to online transactions
The Consumer Financial Protection Bureau argued in a court filing that online-initiated wire transfers are subject to the Electronic Fund Transfer Act and Regulation E, even though the law exempts...
CFPB plans to extend 1071 compliance deadline following court ruling
The Consumer Financial Protection Bureau said it plans to extend the compliance deadline on its 1071 small-business data collection and reporting rule following a Supreme Court ruling that ended a...
Supreme Court finds CFPB funding structure constitutional
The Supreme Court upheld the constitutionality of the Consumer Financial Protection Bureau’s funding structure, reversing the appellate court’s decision that held the CFPB’s funding violates the...
ICBA backs congressional challenge to credit card late fee rule
ICBA expressed support for Rep. Andy Barr’s (R-Ky.) introduction of a resolution to nullify the Consumer Financial Protection Bureau’s final rule to cut credit card late fees.
ICBA to CFPB: Fee proposal another abuse of authority
ICBA urged the Consumer Financial Protection Bureau to stop misusing its authority over unfair, deceptive, or abusive acts or practices to undermine federal disclosure rules.
ICBA urges CFPB to withdraw overdraft proposal
ICBA urged the Consumer Financial Protection Bureau to withdraw its proposed rule to apply Regulation Z lending requirements to overdraft services.
CFPB: Consumer complaints focus on credit bureaus
Consumer complaints about credit or consumer reporting continued to increase in 2023, according to the Consumer Financial Protection Bureau’s latest annual report.
CFPB: Banks need to keep proof of consent for certain overdraft fees
The CFPB issued a circular that says a financial institution violates the Electronic Fund Transfer Act and Regulation E.
ICBA urges CFPB to simplify rule on earned wage access products
ICBA told the Consumer Financial Protection Bureau that its proposed interpretive rule on “earned wage access” products defines “debt” too broadly.
CFPB releases FAQs on ‘buy now, pay later’ products
The Consumer Financial Protection Bureau released frequently asked questions to help industry participants understand, implement, and comply with the requirements in Regulation Z for “buy now, pay...
CFPB targets rental, medical debt in latest report
The Consumer Financial Protection Bureau issued its annual report to Congress on debt collection, which focuses on medical debt and rental debt.
CFPB says it will consider eliminating credit card late fee safe harbor
The Consumer Financial Protection Bureau said it plans to assess whether to eliminate the credit card late fee safe harbor under Regulation Z.
ICBA continues call for 1033 exemption in new article
The Consumer Financial Protection Bureau should exempt banks with less than $850 million in assets from its pending rule on sharing consumer financial data, ICBA told American Banker.
CFPB spotlights violations from recent exams
The CFPB said that its recent examinations revealed unfair, deceptive, or abusive acts at companies servicing auto loan and student loans; Fair Debt Collection Practices Act violations by debt...
Agencies release updated mortgage survey data
The Consumer Financial Protection Bureau and Federal Housing Finance Agency published updated loan-level data collected through the National Survey of Mortgage Originations.
CFPB proposes mortgage servicing rule
The Consumer Financial Protection Bureau issued a proposed rule to amend mortgage servicing rules under Regulation X.
CFPB proposes to expand EFTA coverage to digital assets, video games
The CFPB proposed an interpretive rule on how Regulation E and the Electronic Fund Transfer Act apply to emerging payment mechanisms, such as stablecoins and digital assets that operate as a medium...
ICBA: CFPB’s overdraft rule must be enjoined and overturned
ICBA said the Consumer Financial Protection Bureau’s overdraft rule is likely to negatively affect consumers and their access to banking services and should be legally stopped.
CFPB targets credit card reward programs
The Consumer Financial Protection Bureau issued a circular warning that some credit card companies operating rewards programs may be breaking the law.