An update on CFPB issues for community banks

In a new publication Dodd-Frank and Community Banks: Your Guide to 12 Critical Issues, the American Bankers Association covers key areas such as capital, housing (QM and QRM), interchange, preemption and more.

CFPB proposes 26 percent increase in its budget

Richard Cordray, the director of the Consumer Financial Protection Bureau testified before the U.S. House Committee on Financial Services subcommittee on oversight and investigations Feb. 15 about the CFPB’s proposed budget.

Industry weighs in on CFPB reform bills

A House subcommittee hearing on Feb. 8 gave the banking industry a chance to comment on three bills that would make changes to the Consumer Financial Protection Bureau.

CFPB updates remittance rules

Community banks and other financial service providers that offer remittance transfers will be subject to new rules under Regulation E, the Electronic Funds Transfer Act, which go into effect in January 2013.

Republicans intend to file challenge

Thirty-nine Republican senators signed a Feb. 3 letter to President Obama, stating their intent to file an amicus brief challenging as unconstitutional Obama’s recess appointments to the Consumer Financial Protection Bureau and the National Labor Relations Board

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