The CFPB recently released a report on the operational costs of regulatory compliance. The 176-page report is entitled “Understanding the Effects of Certain Deposit Regulations on Financial Institutions’ Operations: Findings...more
The American Bankers Association has sent a letter to the CFPB responding to the CFPB’s June 2013 white paper reporting its initial data findings on overdraft programs. When the paper was issued, we observed that regulation...more
It appears Senator Mike Crapo, Ranking Member of the Senate Banking Committee, was not satisfied by CFPB Director Cordray’s letter to him responding to Senator Crapo’s questions about the CFPB’s data collection activities....more
The CFPB’s data collection efforts are drawing fire from the U. S. Chamber of Commerce. Those efforts became a focus of attention as a result of an April 2013 report by Carter Dougherty of Bloomberg which revealed that the...more
Despite expectations that the CFPB would make overdraft fees a priority item, it appears that new overdraft rules or other CFPB action is not on the near horizon. According to a report today by Carter Doughtery in Bloomberg...more