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Dodd-Frank Wall Street Reform and Consumer Protection Act › Consumer Financial Protection Bureau (CFPB) › American Bankers Association

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Ballard Spahr LLP

Kentucky Federal District Court Issues Order Enjoining the CFPB From Enforcing the Small Business Data Collection Rule as to All...

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On September 14th, the Federal District Court for the Eastern District of Kentucky granted the plaintiff’s motion to preliminarily enjoin the CFPB from implementing the Small Business Lending Rule (Rule) promulgated under...more

Troutman Pepper

Several Trade Associations Join Calls to CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 18, the American Financial Services Association, Consumer Bankers Association, CRE Finance Council, Equipment Leasing and Finance Association, Mortgage Bankers Association, National Association of Federally-Insured...more

Troutman Pepper

Credit Union Trade Associations Move to Intervene in Case Challenging CFPB’s Enforcement of its Section 1071 Rule

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On August 10, two credit union trade associations — Credit Union National Association (CUNA) and Cornerstone Credit Union League — and Rally Credit Union (collectively, Proposed Intervenors) filed an Unopposed Emergency...more

Troutman Pepper

Banks From Coast to Coast Urge CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 8, bankers associations from all 50 states sent a joint letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging it to stay enforcement and implementation of the small business data collection and...more

Troutman Pepper

Credit Union Trade Associations Urge CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 7, the National Association of Federally-Insured Credit Unions (NAFCU) and the Credit Union National Association (CUNA) sent a joint letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging it to...more

Ballard Spahr LLP

Why the Texas federal court should have gone further in preliminarily enjoining the CFPB from implementing and enforcing its small...

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On Monday, the Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) issued an order that preliminarily enjoins the CFPB from...more

Husch Blackwell LLP

Recent Developments in Section 1071: CFPB Issues Frequently Asked Questions for Section 1071 Small Business Lending Rule, and...

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Over the last several weeks, there have been two significant developments involving Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. First, on June 28, 2023, the Consumer Financial Protection...more

Ballard Spahr LLP

CFPB files opposition to preliminary injunction motion in lawsuit challenging Section 1071 final rule

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The CFPB has filed its opposition to the motion seeking a preliminary injunction filed by the plaintiffs in the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule)....more

Katten Muchin Rosenman LLP

Bankers' Associations File Challenge to CFPB Small Business Data Collection Rule

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Within a little less than four weeks after the publication on March 30, by the Consumer Financial Protection Bureau (CFPB) of its nearly 900-page final rule related to small business data collection (the Final Rule) mandated...more

Ballard Spahr LLP

ABA Critical of HMDA Rule in Comments to Treasury Secretary

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Based on the President’s executive order 13772 on The Core Principles for Regulating the United States Financial System, the American Bankers Association (ABA) submitted a white paper to Treasury Secretary Mnuchin that...more

Ballard Spahr LLP

ABA comments on CFPB’s RFI on consumer access to financial information

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The American Bankers Association has submitted a comment letter in response to the CFPB’s request for information regarding consumer access to financial information. The ABA observes that while larger institutions have...more

Ballard Spahr LLP

Texas Bankers Association files FOIA request with CFPB

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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

Ballard Spahr LLP

Director Cordray appears before Senate Banking Committee

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On Wednesday, July 15, CFPB Director Richard Cordray appeared before the Senate Committee on Banking, Housing, & Urban Affairs to answer questions regarding the Bureau’s Semi-Annual Report to Congress and the President, which...more

Burr & Forman

Dodd-Frank News: June 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Ballard Spahr LLP

ABA raises concerns about costs to industry resulting from CFPB information gathering

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In a memo to state banking associations, the American Bankers Association raises concerns about the costs to industry of the CFPB’s use of its expansive authority to gather information under Section 1022 of the Dodd-Frank...more

Ballard Spahr LLP

Trade groups urge CFPB to solicit public comments on arbitration study

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Five leading financial services industry trade groups have sent a letter to the CFPB urging it to solicit public comments on the final results of its arbitration study before deciding whether to initiate a rulemaking...more

Burr & Forman

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Ballard Spahr LLP

Director Cordray focuses on mortgage rules in remarks to American Bankers Association

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A substantial portion of Director Cordray’s remarks yesterday at the American Bankers Association’s Annual Convention in New Orleans was directed at justifying the Bureau’s decision not to delay the January 2014 effective...more

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