American Bankers Association

News & Analysis as of

Study: TRID Rules Have Increased Costs, Decreased Product Offerings

What kind of impact have the Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) requirements had on banks? According to a new study conducted by the American Bankers Association (ABA), the...more

Dodd-Frank Act Criticized at American Bankers' Association Conference

At an American Bankers’ Association Conference in Washington, DC, US Senate Banking Committee Chairman Richard Shelby and US House of Representatives Financial Services Committee Chairman Jeb Hensarling both raised concerns...more

ABA Survey Quantifies TRID Costs, Delays

On March 1, the American Bankers Association published results of its 2016 TILA-RESPA Integrated Disclosures (TRID) Survey. The Survey aggregates data gathered between February 1, 2016 and February 17, 2016, from 548 of the...more

TCPA FCC Petitions Tracker

Kelley Drye’s Communications Practice Group presents this tracker of active Telephone Consumer Protection Act (“TCPA”) petitions before the Federal Communications Commission (“FCC”). With the recent increase in litigation...more

Survey Says: TRID Extends Processing Times and Limits Products Offered

The American Bankers Association (ABA) has released findings from its recent 2016 ABA TRID Survey focusing on the TILA/RESPA Integrated Disclosure (TRID) rule’s effect on the residential mortgage lending market. The findings,...more

Recent Scrutiny of CFPB’s Complaint Database Foretells Problems for Businesses

The Consumer Financial Protection Bureau’s (CFPB’s) consumer complaint database recently raised significant concerns from insiders at the CFPB as well as entities subject to the CFPB’s jurisdiction. In November 2015, the...more

ABA comments on CFPB proposed overdraft survey

The American Bankers Association has submitted a letter commenting on the CFPB’s request for approval from the Office of Management and Budget to conduct “a national web survey of 8,000 individuals as part of its study of...more

CFPB confirms interest in marketplace lending

Companies involved in marketplace lending will be quite interested in the attendee list for the American Banker’s Marketplace Lending + Investing conference taking place this week in New York City. It indicates that 22...more

Responding to Professor Sovern: how Dodd-Frank Section 1028 limits the CFPB’s power to regulate arbitration agreements

In a blog post earlier this week, Professor Jeff Sovern took issue with statements made by a legal expert that suggest an amendment to the Federal Arbitration Act would be necessary for the CFPB to ban class action waivers in...more

TCPA FCC Petitions Tracker

Kelley Drye’s Communications Practice Group presents this tracker of active Telephone Consumer Protection Act (“TCPA”) petitions before the Federal Communications Commission (“FCC”). With the recent increase in litigation...more

6,400 American Bankers Association members’ usernames and passwords compromised

Late last week, the American Bankers Association disclosed that its computer systems had been compromised exposing thousands of members’ personal information. The hacking occurred through its website’s shopping cart tool,...more

Cordray Submits Letter to Trade Associations Regarding TRID Compliance

On October 1, CFPB Director Richard Cordray, on behalf of the FFIEC, responded to correspondence from the American Bankers Association and other trade associations seeking guidance as to their compliance with the Bureau’s...more

That is SO last week - October 2015

Last week saw a lot of media coverage about “Yelp for People.” The app, called Peeple, allows users to rate friends, co-workers, and romantic partners based on a five-star rating system. Recruiters could review the ratings...more

Industry Groups Express Concern About FDIC Guidance on Brokered Deposits

Why it matters - What is the proper scope of the definition of a "brokered deposit"? Certain industry groups wrote a letter to the Federal Deposit Insurance Corp. (FDIC) expressing concern about the broadened definition...more

Carried Interests OK Under Management Fee Waiver Regulations

Last week, I was at the ABA Tax Section meeting in Chicago. During one of the partnership panels, Clifford Warren, Special Counsel to the Associate Chief Counsel (Passthroughs and Special Industries) at the IRS, was posed...more

Status Update on Targeted Allocation Regulations

I’m at the ABA Tax conference this week and one of this morning’s first panels included a discussion of hot topics in partnerships. Curtis Wilson, IRS Associate Chief Counsel in Passthroughs and Special Industries,...more

Banks Win Class Certification in Target Data Breach Case

A federal court recently granted class certification to a group of financial institutions (the “Banks”) in the data breach case against Target Corporation (“Target”) arising from the December 2013 hacking of its computer...more

Banking Trade Associations Urge Senate Leaders to Pass Regulatory Relief Legislation for Community Institutions

On September 8, four trade associations representing 14,000 financial institutions – the American Bankers Association, the Credit Union National Association, the Independent Community Bankers of America, and the National...more

TCPA FCC Petitions Tracker

Kelley Drye's Communications Practice Group presents this tracker of active Telephone Consumer Protection Act ("TCPA") petitions before the Federal Communications Commission ("FCC"). With the recent increase in litigation...more

ABA comments on normalization of CFPB consumer complaint data

In response to the CFPB’s Request for Information seeking “best practices for normalizing relevant data” in the CFPB’s Consumer Complaint Database, the American Bankers Association has submitted a comment letter in which it...more

Noted Scholars Critique the CFPB’s Arbitration Study and Find It Lacking

We have previously blogged about the comment letter concerning the CFPB’s March 10, 2015 Study on consumer arbitration that we submitted to the CFPB on behalf of the American Bankers Association, the Consumer Bankers...more

ABA seeks supervisory and enforcement standards consistent with Inclusive Communities

The American Bankers Association has sent a letter to the DOJ, Fed, OCC, FDIC, HUD and CFPB requesting confirmation “in interagency guidance, updated exam procedures, and where appropriate amended regulations that the...more

The FCC's TCPA Regulatory Ruling Imposes Tighter Call Restrictions

Last month, the Federal Communications Commission (FCC) released a long awaited declaratory ruling and order, FCC 15-72, addressing several petitions which sought clarification of or exemptions from Telephone Consumer...more

Texas Bankers Association files FOIA request with CFPB

The Texas Bankers Association (TBA) announced on its website that it has filed a Freedom of Information Act (FOIA) Request with the CFPB to obtain all documentation the CFPB requested from bank software processors on the...more

Treasury Deputy Secretary Raskin Delivers Remarks on Cybersecurity in the Financial Sector

On July 14, Deputy Secretary of the Treasury Sarah Bloom Raskin delivered remarks at the American Bankers Association Summer Leadership meeting in Baltimore. Speaking on cybersecurity and cyber-resiliency in banking and the...more

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