Bank Alerts Archive

2010

• TAKE ACTION: CONTACT YOUR U.S. SENATORS IMMEDIATELY (April 19, 2010)
  PDF format, 166KB
  
  
• FCC Proposal on Autodialers -- Restricts Collections and Other Customer Communication (March 23, 2010)
  PDF format, 43KB
  
  

2009

• CBA Bank Alert: Fed Proposes Regulation of Gift Cards (November 17, 2009)
  PDF format, 30KB
  The proposed amendment to Regulation E will implement the Credit CARD Act provisions scheduled to take effect August 22, 2010.
  
  
• Regulatory Reform: (October 22, 2009)
  PDF format, 45KB
  Consumer Financial Protection Agency Act and Expedited CARD Act Adopted by House Committee
  
  
• Regulatory Reform: (October 9, 2009)
  PDF format, 42KB
  House vote on Consumer Financial Protection Agency CFPA Act and Expedited CARD Act set for Oct. 14
  
  
• Credit Cards: (September 29, 2009)
  PDF format, 34KB
  The Fed issued an 841-page proposal amending Reg. Z to implement the Credit CARD Act of 2009
  
  
• Mortgage Reform (July 23, 2009)
  PDF format, 56KB
  Fed Proposes Major Changes to Disclosures for Mortgages and Home Equity Lines
  
  
• Preemption (June 29, 2009)
  PDF format, 29KB
  US Supreme Court’s 5-4 decision in the case Cuomo v. The Clearing House expands the authority of states to enforce their own laws over national banks
  
  
• Deposit Accounts (June 1, 2009)
  PDF format, 34KB
  Banks Win Victory in California Supreme Court
  
  
• FDIC Sets Special Assessment at 5bp Based on Assets and Cap Set at 10bp of Deposits (May 22, 2009)
  PDF format, 32KB
  
  
• Coverage of TILA Student Lending Proposal Calls for Comment (May 22, 2009)
  PDF format, 37KB
  Federal Reserve Board’s proposed student lending amendments to Regulation Z contains an overly broad definition of private education loan, which may trip up the unwary creditor. CBA encourages members to comment.
  
  
• Credit Cards (May 21, 2009)
  PDF format, 39KB
  CBA Webinar on June 16 explains how to comply with Credit Card Accountability Responsibility and Disclosure Act
  
  
• Mortgage Reform (May 21, 2009)
  PDF format, 32KB
  Helping Families Save Their Homes Act amendment requires creditors to notify consumers of mortgage assignment
  
  
• Senate Passes Credit Card Practices Legislation (May 19, 2009)
  PDF format, 38KB
  
  
• FDIC Special Assessment (May 19, 2009)
  PDF format, 31KB
  Congress passes FDIC/Housing bill, which increases the borrowing authority of the FDIC and reduces the special assessment on financial institutions.
  
  
• Mortgage Reform (May 12, 2009)
  PDF format, 32KB
  HUD pledges to implement RESPA reforms, and withdraws the pending change to “required use” definition
  
  
• CBA's Concerns re H.R. 627, the Credit Cardholders' Bill of Rights Act of 2009 (May 12, 2009)
  PDF format, 32KB
  
  
• Mortgage Disclosure Improvement Act: (May 8, 2009)
  PDF format, 31KB
  Fed approves final rule requiring that consumers receive mortgage loan cost information earlier in the lending process.
  
  
• Full House Passes Credit Card Bill while the Senate votes against “Cram-Down” Language (April 30, 2009)
  PDF format, 40KB
  
  
• Mortgage Reform (April 29, 2009)
  PDF format, 45KB
  House Committee Approves the Mortgage Reform and Anti-Predatory Lending Act of 2009 (April 29, 2009)
  
  
• Credit Cards (April 22, 2009)
  PDF format, 46KB
  Update on clarifications to new credit card rules, the House bill, and the White House meeting with industry representatives (April 22, 2009)
  
  
• Community Reinvestment Act: Expanded CRA and Data Reporting Under Consideration in Congress (April 20, 2009)
  PDF format, 50KB
  
  
• CBA Government Relations First Quarter Report (April 3, 2009)
  PDF format, 45KB
  
  
• Credit Cards (April 2, 2009)
  PDF format, 38KB
  House Financial Services Subcommittee Passes Credit Card Practices Bill
  
  
• Senate Banking Committee Passes Credit C ard Practices Bill (March 31, 2009)
  PDF format, 40KB
  
  
• Appropriations Bill Gives FTC and States New Powers (March 11, 2009)
  PDF format, 32KB
  
  
• Fed Proposes Regulation Z Disclosures for Private Student Loans - CBA to Comment (March 11, 2009)
  PDF format, 37KB
  
  
• Reg E/Overdraft Protection (March 5, 2009)
  PDF format, 50KB
  CBA Member Call on March 12, 2009 at 2:00 p.m.
  
  
• Appropriations Bill Would Give FTC and States New Powers (March 4, 2009)
  PDF format, 32KB
  
  
• FDIC Study on Unbanked – CBA Plans Working Group (February 24, 2009)
  PDF format, 57KB
  
  
• Congress (January 9, 2009)
  PDF format, 38KB
  Republicans serving on the House Financial Services Committee for the 111th Congress announced.
  
  
• Republican Financial Services Committee Members Announced (January 9, 2009)
  PDF format, 42KB
  Ranking Member Spencer Bachus (R-AL) announces Republican Committee Membership and Subcommittee Ranking Members for the House Financial Services Committee for the 111th Congress.
  
  

2008

• Overdraft Protection (December 19, 2008)
  PDF format, 47KB
  The Fed proposes new disclosures for overdraft protection services and debit holds.
  
  
• Credit Cards (December 18, 2008)
  PDF format, 58KB
  Federal banking agencies adopted landmark changes to credit card rules.
  
  
• Real Estate Appraisals (November 13, 2008)
  PDF format, 43KB
  Responding to concerns over appraisals and credit quality, regulators issued for comment revised guidelines and supervisory expectations for real estate appraisals.
  
  
• THE ELECTIONS AND BANKING: WHAT NEXT? (November 5, 2008)
  PDF format, 29KB
  Tuesday's elections, to borrow a phrase, will indeed bring change. As President-Elect, Barack Obama inherits an economic crisis, shattered public confidence, international tension, and the daunting task of reshaping the nation's oversight of financial markets.
  
  
• HMDA Data (September 17, 2008)
  PDF format, 35KB
  New Home Mortgage Disclosure Act data reflects significant changes in the housing market.
  
  
• Arbitration (July 15, 2008)
  PDF format, 28KB
  
  
• Fed Issues Tough Final HOEPA Rules (July 14, 2008)
  PDF format, 35KB
  
  
• The Federal Reserve Board and the Federal Trade Commission Issue Proposed Rules on Risk-Based Pricing Notices (May 8, 2008)
  PDF format, 37KB
  
  
• RESPA Reform Proposal – Comment Period Extended (May 8, 2008)
  PDF format, 35KB
  
  
• Fed Issues Proposal on Unfair or Deceptive Credit Card and Overdraft Practices (May 2, 2008)
  PDF format, 51KB
  
  
• OTS Approves a Proposal for Comment on Unfair and Deceptive Practices (May 1, 2008)
  PDF format, 39KB
  
  
• House Passes Student Lending Liquidity Bill (April 17, 2008)
  PDF format, 41KB
  
  
• CBA says Federal Action is Needed Now to Avert Loan Access Problem (April 15, 2008)
  PDF format, 36KB
  
  
• Contact House Members Today to Vote "No" On the David Bankruptcy Amendment (February 6, 2008)
  PDF format, 30KB
  
  
• Higher Education Reauthorization Goes to House Floor: Problematic Amendments to be Offered (February 5, 2008)
  PDF format, 45KB
  
  

2007

• Fed's Mortgage Proposal Includes Broker Disclosures (December 18, 2007)
  PDF format, 41KB
  CBA Bank Alert regarding a proposal to amend Regulation Z, applying its authority under the Home Ownership and Equity Protection Act (HOEPA) to regulate unfair and abusive mortgage lending practices.
  
  
• House Passes Expansion of UDAP Authority (December 6, 2007)
  PDF format, 42KB
  
  
• House Passes Mortgage Reform Bill (November 16, 2007)
  PDF format, 32KB
  
  
• House Committee Adopts Mortgage Reform Bill (November 7, 2007)
  PDF format, 47KB
  
  
• Chairman Frank Co-Sponsors Mortgage Reform Bill (October 23, 2007)
  PDF format, 43KB
  
  
• FACT ACT FINAL RULES: Affiliate Marketing/Identity Theft/Red Flags/Address Discrepancy (October 16, 2007)
  PDF format, 48KB
  
  
• Federal Reserve Releases HMDA Analysis and Credit Scores Report (September 27, 2007)
  PDF format, 36KB
  
  
• SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers (September 20, 2007)
  PDF format, 49KB
  
  
• Student Loan Budget Reconciliation Bill Conference Agreement (August 1, 2007)
  PDF format, 37KB
  Interested in touting the bill as a domestic policy victory, the House and Senate Democratic leadership are making a major effort to complete the conference agreement on H.R. 2669, the student loan budget reconciliation bill. The conference agreement could be voted on by the House and Senate on Friday, August 3rd.
  
  
• Second Student Loan Bill Due Monday (July 23, 2007)
  PDF format, 44KB
  TODAY, the Senate will take up S. 1642, the Higher Education Amendments of 2007. This bill includes student loan amendments important to CBA members and will be subject to at least three amendments of direct interest to CBA.
  
  
• Destructive Student Loan Bill Scheduled for House Action (July 9, 2007)
  PDF format, 107KB
  The House of Representatives is scheduled to consider H.R. 2669, the College Cost Reduction Act this Wednesday, July 11, 2007. Despite its title, this legislation would increase the cost of loans to approximately 6.5 million middle-income students and their families and would undermine the ability of the Federal Family Education Loan Program (FFELP) to continue to offer consistent service and reliability.
  
  
• Agencies Issue Final Statement on Subprime Mortgage Lending (June 29, 2007)
  PDF format, 41KB
  The federal financial regulatory agencies today issued a final Statement on Subprime Mortgage Lending, to address issues relating to certain adjustable-rate mortgage (ARM) products.
  
  
• Fed Proposes Revamp of Regulation Z (May 23, 2007)
  PDF format, 27KB
  The Federal Reserve Board today issued for comment numerous changes to the open-end disclosures required by Regulation Z, which implements the Truth in Lending Act (TILA)-affecting mostly credit cards. The proposal, which runs to nearly 800 pages in total, is the culmination of a review process begun in December 2004, with the first Advance Notice of Proposal Rulemaking (ANPR), and incorporating the Bankruptcy Act's amendments to TILA that were part of the ANPR issued in October 2005. This proposal applies to open-end consumer credit other than home-secured credit or HELOCs.
  
  
• Supreme Court Rules in Favor of Wachovia: Upholds OCC Preemption Authority (April 17, 2007)
  PDF format, 114KB
  In a 5-3 decision, the US Supreme Court has held that an operating subsidiary of Wachovia Bank is "subject to OCC's superintendence, and not to the licensing, reporting, and visitorial regimes of the several States in which the subsidiary operates" (Watters v. Wachovia). The Court also held that the OCC's authority to regulate operating subsidiaries is not affected by the 10th Amendment of the U. S. Constitution.
  
  
• CBA Budget Reconciliation Call for Action for FFELP Providers (April 11, 2007)
  PDF format, 109KB
  House and Senate conferees will shortly begin work on reconciling differences between the House and Senate passed versions of the FY 2008 budget resolution (H. Con. Res. 99/S. Con. Res. 21).
  
  
• DOD Proposes Regulations Under Payday Loan Law (April 9, 2007)
  PDF format, 98KB
  The Department of Defense this week is expected to issue a proposed regulation under the John Warner National Defense Authorization Act to implement the provisions intended to regulate payday loans made to active service members and their dependents. These payday loan rules, known as the "Talent Amendment", were intended to curtail the proliferation of payday lending around military bases.
  
  
• Bank Advisory: CBA Files Comment Letter on Fed & SEC Proposed Regulation R (March 30, 2007)
  PDF format, 43KB
  
  
• Senator Carl Levin (D-MI) Asks Credit Card Issuers to Change Practices and Improve Disclosures (March 7, 2007)
  PDF format, 108KB
  Senator Carl Levin, Chairman of the Senate Homeland Security Subcommittee on Permanent Investigations held a hearing today to discuss credit card practices and encouraged credit card issuers to implement change. Senator Levin applauded those companies who have announced changes recently as well as their efforts to work with the Federal Reserve on improving disclosures through Regulation Z, but he warned that in addition to regulation, legislation would be in pipeline to insure that all credit card issuers are making changes to business practices that may be "unfair" to consumers.
  
  
• Agencies Propose Statement on Subprime Mortgage Lending (March 2, 2007)
  PDF format, 32KB
  The Federal Financial Institution Regulatory Agencies (OCC, FRB, FDIC, OTS, and NCUA) (The Agencies) today issued for comment a proposed Statement on Subprime Mortgage Lending (Statement). The Statement is intended to expand upon the Interagency Guidance on Nontraditional Mortgage Product Risks published last September, which was limited to the risks posed by products such as "Interest-Only Mortgages" and "Payment Option ARMs."
  
  
• Senate Banking Committee Holds Hearing on Predatory Lending (February 7, 2007)
  PDF format, 101KB
  The Senate Banking Committee held a hearing today to discuss the impact of predatory lending practices on the increase in home foreclosure rates.
  
  
• Administration Proposes Deep Cuts to the FFEL Student Loan Program (February 5, 2007)
  PDF format, 27KB
  The Bush administration has decided to pay for an increase in the maximum Pell Grant and higher student loan limits by proposing a series of additional budget cuts to the FFEL program. Information about President Bush's FY 2008 budget was delivered to Congress Monday morning which has dealt yet another sobering blow to the student lending community.
  
  
• House Considers Student Lending Legislation (January 10, 2007)
  PDF format, 30KB
  On Wednesday, January 17th the House is expected to consider H.R. 5, the College Student Relief Act. This bill reduces the borrower interest rate on one category of student loan but includes $6 billion of budget cuts adversely impacting lenders in the Federal Family Education Loan (FFEL) Program to pay for it.
  
  

2006

• Agencies Issue Non-Traditional Mortgage Guidance (September 26, 2006)
  PDF format, 35KB
  
  
• Consumer Bankers Association Applauds Passage of the College Access and Opportunity Act: CBA Bank Alert (March 30, 2006)
  PDF format, 29KB
  
  

2005

• Comptroller's Letter Outlines OCC's Commitment to BSA/AML Oversight: CBA Bank Alert (November 14, 2005)
  PDF format, 82KB
  
  
• FDIC Releases 2005 Summary of Reports (October 18, 2005)
  PDF format, 55KB
  
  
• 2004 HMDA Data and Analysis Release (September 13, 2005)
  PDF format, 38KB
  
  
• Agencies Issue Release on Hurricane Katrina (September 2, 2005)
  PDF format, 29KB
  
  
• Fed Issues Final Regulation DD Disclosures on 'Overdraft Protection' (May 20, 2005)
  PDF format, 31KB
  
  
• Fed Updates Reg DD, 'Overdraft Protection' (May 19, 2005)
  PDF format, 31KB
  
  
• OCC Issues Predatory Practice Guidelines (February 2, 2005)
  PDF format, 104KB
  
  

2004

• Regulators Issue Section 326 Customer ID Program Procedures (July 29, 2004)
  PDF format, 95KB
  
  
• Bank Secrecy Act Examination Procedures for Customer Identification Programs: Link to regulations (July 29, 2004)
  PDF format, 95KB
  
  
• Junk Fax Prevention Act (HR 4600) (July 23, 2004)
  PDF format, 99KB
  
  
• Justice Settles "Redlining" Suit Against Old Kent Bank (May 24, 2004)
  PDF format, 92KB
  
  

2003

• OCC Preempts Georgia Predatory Law Proposes Clarifying Scope of Preemption (October 3, 2003)
  PDF format, 478KB
  
  
• CBA Comments on HMDA Transition Rule (April 9, 2003)
  PDF format, 444KB
  
  
• OCC Proposes to Preempt Georgia Predatory Lending Law: CBA Bank Alert (February 21, 2003)
  PDF format, 102KB
  
  

2002

• GMAC Wins Class Action Appeal in Fair Lending Case (July 26, 2002)
  PDF format, 135KB
  
  
• Federal Reserve postpones effective date of HMDA changes for one year, following CBA-led industry effort (May 3, 2002)
  PDF format, 100KB
  
  
• Fed Likely to Consider Proposal to Permit Race and Gender Data Collection (March 6, 2002)
  PDF format, 22KB
  
  
• Fed Expands HMDA Rule - Drops APR Proposal (January 23, 2002)
  PDF format, 33KB
  
  

2001

• Fed Proposed Regulation Z Commentary Changes (December 21, 2001)
  PDF format, 22KB
  
  
• CRA Advance Notice of Proposed Rulemaking (July 13, 2001)
  PDF format, 13KB
  
  

2000

• CRA Sunshine Rule Approved (December 21, 2000)
  PDF format, 24KB