The Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association and two Texas business groups challenged the CFPB on the recently adopted final rule restricting credit card penalty fees.
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SIFMA recommended changes to the CFPB's proposed rule that would allow consumers to access their financial data and provide such data to others.
Several banking associations urged the Federal Reserve Board, the FDIC and the OCC to make public all data and analyses used to develop the recently proposed amendments on capital requirements for large banking organizations.
The U.S. District Court for the Eastern District of Texas held that the CFPB's amendments to its supervisory operations and examinations manual to include “discrimination” under “unfair, deceptive, or abusive acts or practices” exceeds the agency's authority under Dodd-Frank.
The Managed Funds Association criticized an FSOC proposal that would eliminate “key aspects” of current interpretive guidance on the process for designating nonbank financial institutions for heightened Federal Reserve Board supervision.