In a letter to the CFPB, the American Bankers Association warned that shifting the liability for fraudulent payments on peer-to-peer instant payment systems to institutions will likely have negative consequences.
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The American Banker Association expressed concern over a CFPB proposal to establish a public registry designed to collect information about public agency orders and judgments related to violations of the consumer protection laws.
In a comment letter on the FRB's "Principles for Climate-Related Financial Risk Management for Large Financial Institutions," the American Bankers Association supported efforts to create "a high-level guide for the largest institutions," but raised concerns on both substance and process.
The American Bankers Association (the "ABA") expressed support for the Secure and Fair Enforcement Banking Act ("SAFE Banking Act") of 2019. In a letter to Senator Jeff Merkley (D-OR) and Senator Cory Gardner (R-CO), the ABA stated that the SAFE Banking Act takes a critical step toward enabling financial services for cannabis-related businesses by specifying that proceeds from "legitimate cannabis business" would not be illegal pursuant to federal money laundering statutes. The ABA noted that, as the legal state-cannabis industry expands, the "indirect" connections to cannabis revenues will
The American Bankers Association with several other trade associations urged the White House's Office of Information and Regulatory Affairs to reject the CFPB's request for approval of its "Junk Fees Timing Study" information collection.