ABA Criticizes CFPB Study On High-cost Credit Extended to Servicemembers

By | CFPB Monitor | January 21, 2015
ABA Criticizes CFPB Study On High-cost Credit Extended to Servicemembers

The American Bankers Association has sent a letter to the Department of Defense “to alert the Department to shortcomings” in the CFPB’s study entitled “The extension of high-cost credit to servicemembers and their families” and the CFPB’s comment letter endorsing the DoD’s proposed revisions to its Military Loan Act regulations (which included the study as an appendix). 

Diversity Reports at Two Federal Agencies Offer Glimpse of Regulatory Review Under Impending Dodd-Frank Diversity Standards

By | CFPB Monitor | January 19, 2015
Diversity Reports at Two Federal Agencies Offer Glimpse of Regulatory Review Under Impending Dodd-Frank Diversity Standards

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), signed by President Obama in 2010 in response to the financial crisis, includes a provision intended to remedy racial and gender discrepancies at federal financial regulatory agencies and private financial institutions.

CFPB Seeking New Members for Advisory Groups

By | CFPB Monitor | January 19, 2015
CFPB Seeking New Members for Advisory Groups

The CFPB has published a notice in the Federal Register announcing that it is seeking applications from persons interested in becoming members of its Consumer Advisory Board, Community Bank Advisory Council, or Credit Union Advisory Council.  Appointments to the Board are typically for three years and appointments to the Councils are typically for two years.